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Market Commentary


 
Today's Coupons
 
  10-Year Notes   94-27 (-04.5)  
 
  FN 3.5% Coupon   100-02.5 (-04.5)  
 
  Support   2.854%  
 
  Resistance   2.405%  
 
 
 
 
Monday, February 05, 2018
 
 
Treasuries are lower than Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.854% after closing at 2.842% during the prior session.

This week’s economic calendar is relatively quiet. Today it features forecast Markit Services PMI for January coming in at 53.30, matching both survey and prior mark; while forecast Markit Composite PMI for January came in at 53.80, also matching its prior mark. Further, ISM Non-Manufacturing Composite for January came in at 59.90, above survey of 56.70 and above prior mark of 56.00 revised.

Lawmakers will continue negotiations this week on a federal government funding bill that would extend the February 8 deadline until March 22, but it is unclear whether the short-term bill has enough votes this time around. St. Louis Fed President James Bullard is scheduled to speak tomorrow on the U.S. Economy and Monetary Policy in Lexington, Kentucky. 

The curve has bear-steepened with the UST 10-Year yield up 1.2 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/05 Markit US Services PMI 06:45 Jan F 53.30 53.30 53.30 -  
                   
  02/05 Markit US Composite PMI 06:45 Jan F - 53.80 53.80 -  
                   
  02/06 Trade Balance 05:30 Dec -$52.10b - -$50.50b -  
                   
  02/06 JOLTS Job Openings 07:00 Dec 5961 - 5879 -  
                   
  02/07 MBA Mortgage Applications 04:00 2 Feb - - -2.60% -  
                   
  02/07 Consumer Credit 12:00 Dec $20.000b - $27.951b -  
                   
  02/08 Initial Jobless Claims 05:30 3 Feb 232k - 230k -  
                   
  02/08 Continuing Claims 05:30 27 Jan 1940k - 1953k -  
                   
  02/08 Bloomberg Consumer Comfort 06:45 4 Feb - - 54.60 -  
                   
  02/09 Wholesale Trade Sales MoM 07:00 Dec 0.40% - 1.50% -  
                   
  02/09 Wholesale Inventories MoM 07:00 Dec F 0.20% - 0.20% -  
                   
 
 
 
 
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