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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-24.5 (-05)  
 
  FN 3.5% Coupon   100-09.5 (-03)  
 
  Support   3.237%  
 
  Resistance   2.622%  
 
 
 
 
Monday, February 11, 2019
 
 
Market opened today’s session with treasuries selling-off across all maturities. 10-year treasury yield is at 2.6572, 2.33 bps increased from prior closing of 2.6339.

US stocks started this eventful week in green as investors awaited the third round of negotiations between the US and China. While the prospect of reaching a deal before the March deadline still remains unclear, the deadline when additional US tariffs on Chinese goods are scheduled to take effect can be delayed if sufficient progress comes out of this week’s meeting. Another event drawing everyone’s attention this week is the threat of another shutdown after Friday. Talks on border wall funding collapsed over the weekend as Democrats demanded a cap on the number of illegal immigrants detained in the US. Should there be no resolution, another federal funding lapse will recur after Friday. Treasuries edged lower but the dollar rallied for an eighth day. Elsewhere, WTI crude slipped under $52 a barrel.

There is no economic data scheduled for today. Corporate earnings season continues with Michelin, Nissan, Cisco, Nvidia, Nestle, Coca-Cola, and Credit Suisse among the companies who are scheduled to post results this week.

The curve has bear-steepened with UST 10-year yield up 2.33 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/11 No Data - - - - - -  
                   
  02/12 NFIB Small Business Optimism 03:00 Jan 103.00 - 104.40 104.40  
                   
  02/12 JOLTS Job Openings 07:00 Dec 6846 - 6888 -  
                   
  02/13 MBA Mortgage Applications 04:00 8 Feb - - -2.50% -  
                   
  02/13 CPI MoM 05:30 Jan 0.10% - -0.10% -0.00%  
                   
  02/13 CPI YoY 05:30 Jan 1.50% - 1.90% -  
                   
  02/14 PPI Final Demand MoM 05:30 Jan 0.10% - -0.20% -  
                   
  02/14 PPI Final Demand YoY 05:30 Jan 2.10% - 2.50% -  
                   
  02/14 Initial Jobless Claims 05:30 9 Feb 225k - 234k -  
                   
  02/14 Continuing Claims 05:30 2 Feb 1740k - 1736k -  
                   
  02/14 Bloomberg Consumer Comfort 06:45 10 Feb - - 58.20 -  
                   
  02/14 Business Inventories 07:00 Nov 0.20% - 0.60% -  
                   
  02/15 Empire Manufacturing 05:30 Feb 7.00 - 3.90 -  
                   
  02/15 Import Price Index MoM 05:30 Jan -0.10% - -1.00% -  
                   
  02/15 Import Price Index YoY 05:30 Jan -1.60% - -0.60% -  
                   
  02/15 Export Price Index MoM 05:30 Jan -0.10% - -0.60% -  
                   
  02/15 Export Price Index YoY 05:30 Jan - - 1.10% -  
                   
  02/15 Industrial Production MoM 06:15 Jan 0.10% - 0.30% -  
                   
  02/15 Capacity Utilization 06:15 Jan 78.70% - 78.70% -  
                   
  02/15 U. of Mich. Sentiment 07:00 Feb P 93.50 - 91.20 -  
                   
 
 
 
 
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