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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-01 (+12)  
 
  FN 3.5% Coupon   99-25 (+08.5)  
 
  Support   2.910%  
 
  Resistance   2.462%  
 
 
 
 
Friday, February 16, 2018
 
 
Treasuries are higher from yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.859% after closing at 2.910% during the prior session.

Housing Starts during January rose to 1326k, above estimates of 1234k and rising from its previous mark of 1209k revised; while month-over-month Housing Starts for January rose by 9.70%, above estimates of 3.50% and up from its previous -6.90% revised. Also in today, Building Permits for January rose to 1396k, above both estimates and prior mark of 1300k revised; while month-over-month Building Permits for January rose by 7.40%, above estimates of 0.00% and up from its prior -0.20% revised.

Further, the month-over-month Import Price Index for January rose 1.00%, above survey of 0.60% and up from prior 0.20% revised; while year-over-year Import Price Index for January rose 3.60%, above estimates of 3.00% and up from its prior 3.20% revised. Also, Month-over-month Export Price Index for January rose by 0.80%, above estimates of 0.30% and up from its previous 0.10% revised; while year-over-year Export Price Index rose by 3.40% versus a prior mark of 2.80% revised. 

The curve has bull-flattened with the UST 10-Year yield down 5.1 bps from prior closing.

Have A Wonderful Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/12 Monthly Budget Statement 11:00 Jan $51.00b $49.20b $51.30b -  
                   
  02/13 NFIB Small Business Optimism 03:00 Jan 105.30 106.90 104.90 -  
                   
  02/14 MBA Mortgage Applications 04:00 9 Feb - -4.10% 0.70% -  
                   
  02/14 CPI MoM 05:30 Jan 0.30% 0.50% 0.10% 0.20%  
                   
  02/14 CPI YoY 05:30 Jan 1.90% 2.10% 2.10% -  
                   
  02/14 Retail Sales Advance MoM 05:30 Jan 0.20% -0.30% 0.40% 0.00%  
                   
  02/14 Business Inventories 07:00 Dec 0.30% 0.40% 0.40% -  
                   
  02/15 Empire Manufacturing 05:30 Feb 18.00 13.10 17.70 -  
                   
  02/15 PPI Final Demand MoM 05:30 Jan 0.40% 0.40% -0.10% 0.00%  
                   
  02/15 PPI Final Demand YoY 05:30 Jan 2.40% 2.70% 2.60% -  
                   
  02/15 Initial Jobless Claims 05:30 10 Feb 228k 230k 221k 223k  
                   
  02/15 Continuing Claims 05:30 3 Feb 1925k 1942k 1923k 1927k  
                   
  02/15 Philadelphia Fed Business Outlook 05:30 Feb 21.80 25.80 22.20 -  
                   
  02/15 Industrial Production MoM 06:15 Jan 0.20% -0.10% 0.90% 0.40%  
                   
  02/15 Capacity Utilization 06:15 Jan 78.00% 77.50% 77.90% 77.70%  
                   
  02/15 NAHB Housing Market Index 07:00 Feb 72.00 72.00 72.00 -  
                   
  02/15 Total Net TIC Flows 13:00 Dec - -$119.30b $33.80b $33.50b  
                   
  02/15 Net Long-term TIC Flows 13:00 Dec - $27.30b $57.50b -  
                   
  02/16 Import Price Index MoM 05:30 Jan 0.60% 1.00% 0.10% 0.20%  
                   
  02/16 Import Price Index YoY 05:30 Jan 3.00% 3.60% 3.00% 3.20%  
                   
  02/16 Housing Starts 05:30 Jan 1234k 1326k 1192k 1209k  
                   
  02/16 Housing Starts MoM 05:30 Jan 3.50% 9.70% -8.20% -6.90%  
                   
  02/16 Building Permits 05:30 Jan 1300k 1396k 1302k 1300k  
                   
  02/16 Building Permits MoM 05:30 Jan 0.00% 7.40% -0.10% -0.20%  
                   
  02/16 Export Price Index MoM 05:30 Jan 0.30% 0.80% -0.10% 0.10%  
                   
  02/16 Export Price Index YoY 05:30 Jan - 3.40% 2.60% 2.80%  
                   
  02/16 U. of Mich. Sentiment 07:00 Feb P 95.50 99.90 95.70 -  
                   
 
 
 
 
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