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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-10 (+07.5)  
 
  FN 3.5% Coupon   99-30.5 (+03)  
 
  Support   2.859%  
 
  Resistance   2.422%  
 
 
 
 
Monday, February 12, 2018
 
 
Treasuries are marginally lower than Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.856% after closing at 2.852% during the prior session.

This week’s economic calendar kicks off with the Monthly Budget Statement for January today at 11:00 AM (PT); and continues tomorrow with Small Business Optimism and Producer Price Index. Further, it will feature Mortgage Applications, Consumer Price Index and Retail Sales on Wednesday; and Initial & Continuing Jobless Claims together with Producer Price Index on Thursday. The calendar concludes on Friday with Imports and Exports Prices, Housing Starts & Building Permits, and University of Michigan Sentiments among others.  

Cleveland Fed President Mester is scheduled to speak tomorrow on monetary policy and economic outlook. Also, a $7 Billion TIPS auctions is scheduled for Thursday. 

The curve has bear-steepened with the UST 10-Year yield up 0.4 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/12 Monthly Budget Statement 11:00 Jan $51.00b - $51.30b -  
                   
  02/13 NFIB Small Business Optimism 03:00 Jan 105.30 - 104.90 -  
                   
  02/14 MBA Mortgage Applications 04:00 9 Feb - - 0.70% -  
                   
  02/14 CPI MoM 05:30 Jan 0.30% - 0.10% 0.20%  
                   
  02/14 CPI YoY 05:30 Jan 1.90% - 2.10% -  
                   
  02/14 Retail Sales Advance MoM 05:30 Jan 0.20% - 0.40% -  
                   
  02/14 Business Inventories 07:00 Dec 0.30% - 0.40% -  
                   
  02/15 Empire Manufacturing 05:30 Feb 17.90 - 17.70 -  
                   
  02/15 PPI Final Demand MoM 05:30 Jan 0.40% - -0.10% -  
                   
  02/15 PPI Final Demand YoY 05:30 Jan 2.50% - 2.60% -  
                   
  02/15 Initial Jobless Claims 05:30 10 Feb 228k - 221k -  
                   
  02/15 Continuing Claims 05:30 3 Feb 1927k - 1923k -  
                   
  02/15 Philadelphia Fed Business Outlook 05:30 Feb 21.50 - 22.20 -  
                   
  02/15 Industrial Production MoM 06:15 Jan 0.20% - 0.90% -  
                   
  02/15 Capacity Utilization 06:15 Jan 78.00% - 77.90% -  
                   
  02/15 Bloomberg Consumer Comfort 06:45 11 Feb - - 54.40 -  
                   
  02/15 NAHB Housing Market Index 07:00 Feb 72.00 - 72.00 -  
                   
  02/15 Total Net TIC Flows 13:00 Dec - - $33.80b -  
                   
  02/15 Net Long-term TIC Flows 13:00 Dec - - $57.50b -  
                   
  02/16 Import Price Index MoM 05:30 Jan 0.60% - 0.10% -  
                   
  02/16 Import Price Index YoY 05:30 Jan 2.90% - 3.00% -  
                   
  02/16 Housing Starts 05:30 Jan 1235k - 1192k -  
                   
  02/16 Housing Starts MoM 05:30 Jan 3.60% - -8.20% -  
                   
  02/16 Building Permits 05:30 Jan 1300k - 1302k 1300k  
                   
  02/16 Building Permits MoM 05:30 Jan 0.00% - -0.10% -0.20%  
                   
  02/16 Export Price Index MoM 05:30 Jan 0.30% - -0.10% -  
                   
  02/16 Export Price Index YoY 05:30 Jan - - 2.60% -  
                   
  02/16 U. of Mich. Sentiment 07:00 Feb P 95.40 - 95.70 -  
                   
 
 
 
 
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