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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-15 (-03.5)  
 
  FN 3.5% Coupon   101-08.5 (-03)  
 
  Support   2.664%  
 
  Resistance   2.349%  
 
 
 
 
Thursday, January 25, 2018
 
 
Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.664% after closing at 2.647% during the prior session.

On the economic calendar today, Initial Jobless Claims for the week ended January 20 reached 233k, marginally below survey of 235k but an increase from its previous mark of 216k revised. Continuing Claims for the week ended January 13 reached 1937k, above survey of 1925k but below its previous mark of 1965k revised. Also, the Bloomberg Weekly Consumer Comfort Index for the week ended January 21 reached 53.70 from 53.80 during the prior week. Finally, New Home Sales for December reached 625k, below survey of 675k and lower than its previous mark of 689k revised; while month-over-month New Home Sales for December dropped by 9.30%, below estimates of -7.90% and considerably lower than its previous mark of 15.00% revised.

A Treasury Department auction concludes today with an issuance of $28 Billion in 7-Years notes.  St. Louis Fed President James Bullard is scheduled to speak tomorrow in Oslo. 

The curve has bear-flattened with the UST 10-Year yield up 1.7 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/22 Chicago Fed Nat Activity Index 05:30 Dec 0.22 0.27 0.15 0.11  
                   
  01/23 Richmond Fed Manufact. Index 07:00 Jan 19.00 14.00 20.00 -  
                   
  01/24 MBA Mortgage Applications 04:00 19 Jan - 4.50% 4.10% -  
                   
  01/24 FHFA House Price Index MoM 06:00 Nov 0.50% 0.40% 0.50% 0.60%  
                   
  01/24 Markit US Composite PMI 06:45 Jan P - 53.80 54.10 -  
                   
  01/24 Markit US Services PMI 06:45 Jan P 54.30 53.30 53.70 -  
                   
  01/24 Markit US Manufacturing PMI 06:45 Jan P 55.00 55.50 55.10 -  
                   
  01/24 Existing Home Sales  07:00 Dec 5.70m 5.57m 5.81m 5.78m  
                   
  01/24 Existing Home Sales MoM 07:00 Dec -1.90% -3.60% 5.60% 5.10%  
                   
  01/25 Initial Jobless Claims 05:30 20 Jan 235k 233k 220k 216k  
                   
  01/25 Continuing Claims 05:30 13 Jan 1925k 1937k 1952k 1965k  
                   
  01/25 Bloomberg Consumer Comfort 06:45 21 Jan - 53.70 53.80 -  
                   
  01/25 New Home Sales 07:00 Dec 675k 625k 733k 689k  
                   
  01/25 New Home Sales MoM 07:00 Dec -7.90% -9.30% 17.50% 15.00%  
                   
  01/25 Leading Index 07:00 Dec 0.50% 0.60% 0.40% 0.50%  
                   
  01/25 Kansas City Fed Manf. Activity 08:00 Jan 14.00 16.00 14.00 -  
                   
  01/26 Wholesale Inventories MoM 05:30 Dec P 0.40% - 0.80% -  
                   
  01/26 Personal Consumption 05:30 4Q A 3.70% - 2.20% -  
                   
  01/26 GDP Annualized QoQ 05:30 4Q A 3.00% - 3.20% -  
                   
  01/26 GDP Price Index 05:30 4Q A 2.30% - 2.10% -  
                   
  01/26 Core PCE QoQ 05:30 4Q A 1.90% - 1.30% -  
                   
  01/26 Durable Goods Orders 05:30 Dec P 0.80% - 1.30% -  
                   
  01/26 Durables Ex Transportation 05:30 Dec P 0.60% - -0.10% -  
                   
 
 
 
 
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