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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-29.5 (+12)  
 
  FN 3.5% Coupon   99-27 (+09)  
 
  Support   2.950%  
 
  Resistance   2.522%  
 
 
 
 
Friday, February 23, 2018
 
 
Treasuries are higher than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.883% after closing at 2.922% during the prior session.

The yield on the 10-Year Treasury opened today slightly above 2.880%, close to the level where it started the week, as the Federal Reserve is scheduled to publish today at 8:00 AM (PT) its semi-annual monetary policy report to Congress. Fed Chairman Jerome Powell is scheduled to deliver his testimony on the report before the House Financial Services Committee on February 28; while the market expects the testimony to offer his view on the economy and the Fed’s baseline scenario for policy tightening during the course of the year. 

The economic calendar for this week concluded yesterday, while next week’s kicks off on Monday with Home Sales, Manufacturing Activity and the Chicago Fed National Activity Index.

Further, today New York Fed’s Dudley and Boston Fed’s Rosengren are scheduled to participate on a panel to discuss the Federal Reserve’s balance sheet in New York, San Francisco Fed’s Williams is scheduled to discuss economic outlook and monetary policy in Los Angeles, and Cleveland Fed’s Mester and European Central Bank Director Coeure are also scheduled to discuss monetary policy in New York.  

The curve has bull-flattened with the UST 10-Year yield down 3.9 bps from prior closing.

Have A Lovely Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/19 No Data - - - - - -  
                   
  02/20 No Data - - - - - -  
                   
  02/21 MBA Mortgage Applications 04:00 16 Feb - -6.60% -4.10% -  
                   
  02/21 Markit US Manufacturing PMI 06:45 Feb P 55.50 55.90 55.50 -  
                   
  02/21 Markit US Services PMI 06:45 Feb P 53.70 55.90 53.30 -  
                   
  02/21 Markit US Composite PMI 06:45 Feb P - 55.90 53.80 -  
                   
  02/21 Existing Home Sales 07:00 Jan 5.60m 5.38m 5.57m 5.56m  
                   
  02/21 Existing Home Sales MoM 07:00 Jan 0.50% -3.20% -3.60% -2.80%  
                   
  02/21 Bloomberg Consumer Comfort 10:00 18 Feb - - 56.60 57.00  
                   
  02/21 FOMC Meeting Minutes 11:00 31 Jan - - - -  
                   
  02/22 Initial Jobless Claims 05:30 17 Feb 230k 222k 230k 229k  
                   
  02/22 Continuing Claims 05:30 10 Feb 1935k 1875k 1942k 1948k  
                   
  02/22 Leading Index 07:00 Jan 0.70% 1.00% 0.60% -  
                   
  02/22 Kansas City Fed Manf. Activity 08:00 Feb 18.00 17.00 16.00 -  
                   
  02/23 No Data - - - - - -  
                   
 
 
 
 
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