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Market Commentary


 
Today's Coupons
 
  10-Year Notes   102-21.5 (-07.5) 1.949%  
 
  FN 3.5% Coupon   104-18 (-03)  
 
  Support   2.260%  
 
  Resistance   1.930%  
 
 
 
 
Today's Blurb Monday, February 1, 2016
 
 
        This week's data spotlight is on Friday's Nonfarm Payrolls and Unemployment report. Total Nonfarm Payrolls for January are expected to fall from 292K to 190K, and the Unemployment rate is expected to hold at 5.00%. Personal Spending cooled in December, with no advance in December following a 0.50% advance prior. Personal Income rose 0.30% in December to add to November's 0.30% advance. The rise in incomes without a similar rise in spending suggests that consumers are using their additional income to store away savings. The saving rate in December climbed to 5.50% from 5.30% in November. The PCE Deflator contracted 0.10% in December and is up 0.60% YoY. ISM Manufacturing is expected to rise from 48.00 to 48.30 in January. Treasuries are opening just below Friday's 2:00 PM (PT) close and the curve has flattened with 2s10s down 1.8 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/01 Personal Income 05:30 Dec   0.20% 0.30% 0.30% -  
                   
  02/01 Personal Spending 05:30 Dec   0.10% 0.00% 0.30% 0.50%  
                   
  02/01 PCE Deflator MoM 05:30 Dec   0.00% -0.10%  0.00% 0.10%  
                   
  02/01 PCE Deflator YoY 05:30 Dec    0.60%  0.60%  0.40% -  
                   
  02/01 PCE Core MoM 05:30 Dec   0.10% 0.00%  0.10% 0.20%  
                   
  02/01 PCE Core YoY 05:30 Dec  1.40% 1.40% 1.30% 1.40%  
                   
  02/01 Markit US Manufacturing PMI 06:45 Jan F 52.60 52.40 52.70 -  
                   
  02/01 ISM Manufacturing 07:00 Jan 48.40  - 48.20 48.00  
                   
  02/01 Construction Spending MoM 07:00 Dec 0.60%  - -0.40% -  
                   
  02/02 ISM New York 06:45 Jan - -   62.00 -  
                   
  02/03 MBA Mortgage Applications 04:00 29 Jan   -   -   8.80% -  
                   
  02/03 ADP Employment Change 05:15 Jan    190K -   257K -  
                   
  02/03 Markit US Services PMI 06:45 Jan F 53.70 - 53.70 -  
                   
  02/03 Markit US Composite PMI 06:45 Jan F - - 53.70 -  
                   
  02/04 Challenger Job Cuts YoY 04:30 Jan - - -27.60% -  
                   
  02/04 Nonfarm Productivity 05:30 4Q P -1.80% - 2.20% -  
                   
  02/04 Initial Jobless Claims 05:30 30 Jan   278K -   278K -  
                   
  02/04 Continuing Claims 05:30 23 Jan  2240K -  2268K -  
                   
  02/04   Bloomberg Consumer Comfort 06:45 31 Jan  - -  44.60 -  
                   
  02/04 Factory Orders 07:00 Dec   -2.60% -   -0.20% -  
                   
  02/04 Durable Goods Orders 07:00 Dec F - -   -5.10% -  
                   
  02/05 Trade Balance 05:30 Dec    -$43.00 B - -$42.37 B -  
                   
  02/05 Change in Nonfarm Payrolls 05:30 Jan    190K - 292K -  
                   
  02/05 Unemployment Rate 05:30 Jan     5.00% - 5.00% -  
                   
  02/05 Average Hourly Earnings MoM 05:30 Jan     0.30% - 0.00% -  
                   
  02/05 Average Hourly Earnings YoY 05:30 Jan    2.20% - 2.50% -  
                   
 
 
 
 
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