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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-14.5 (-10.5)  
 
  FN 3.5% Coupon   101-08.5 (-08.5)  
 
  Support   2.664%  
 
  Resistance   2.364%  
 
 
 
 
Friday, January 26, 2018
 
 
Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.660% after closing at 2.618% during the prior session.

Annualized quarter-over-quarter Gross Domestic Product rose at 2.60% during the fourth quarter, underperforming the 3.20% mark registered in the prior period and falling short of estimated growth of 3.00%, per Commerce Department data released today. Also, the preliminary month-over-month Wholesale Inventories’ print for December reflected a 0.20% rise, falling short of both estimated growth of 0.40% and a prior mark of 0.70% revised; while the month-over-month Retail Inventories’ print for December reflected a 0.20% rise, above its 0.10% prior mark. Further, preliminary Durable Goods Orders for December rose 2.90%, above survey of 0.80% and also above its prior 1.70% revised. Finally, annualized Personal Consumption for the fourth quarter rose by 3.80%, slightly above survey of 3.70% and above prior mark of 2.20%.  

St. Louis Fed President James Bullard is scheduled to speak in Oslo today. 

The curve has bear-steepened with the UST 10-Year yield up 4.2 bps from prior closing.

Have A Lovely Weekend!
 
 
   
 
   
 
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% 0.20% 0.80% 0.70%  
                   
  01/26 Personal Consumption 05:30 4Q A 3.70% 3.80% 2.20% -  
                   
  01/26 GDP Annualized QoQ 05:30 4Q A 3.00% 2.60% 3.20% -  
                   
  01/26 GDP Price Index 05:30 4Q A 2.30% 2.40% 2.10% -  
                   
  01/26 Core PCE QoQ 05:30 4Q A 1.90% 1.90% 1.30% -  
                   
  01/26 Durable Goods Orders 05:30 Dec P 0.80% 2.90% 1.30% 1.70%  
                   
  01/26 Durables Ex Transportation 05:30 Dec P 0.60% 0.60% -0.10% 0.30%  
                   
 
 
 
 
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