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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-31.5(+08) 1.736%  
 
  FN 3.5% Coupon   104-24 (+03)  
 
  Support   2.160%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Monday, February 29, 2016
 
 
    This week’s data includes reports on Manufacturing, Productivity, International Trade and Employment. The highlight is Friday’s Nonfarm Payrolls in where strength is expected after a fairly slow month in January. Tuesday we get Construction Spending and ISM Manufacturing, followed by Thursday’s Factory Orders and Durable Goods, and Friday’s Employment Situation. Today’s data showed Pending Home Sales fell by the most in two years, down 2.50% (consensus +0.50%) with an upward revision in December from 0.10% to 0.90%. Treasuries are higher this morning following the Pending Home Sales miss, and the curve has flattened with 2s10s down 2.8 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/29 ISM Milwaukee 06:00 Feb  50.00   55.22  50.36 -  
                   
  02/29 Dallas Fed Manf. Activity 07:30 Feb  -30.00   -31.80 -34.60 -  
                   
  03/01 Markit US Manufacturing PMI 06:45 Feb F 51.20   -   51.00 -  
                   
  03/01 ISM Manufacturing 07:00 Feb 48.50   - 48.20  -  
                   
  03/01 Construction Spending MoM 07:00 Jan  0.30% -   0.10% -  
                   
  03/02 MBA Mortgage Applications 04:00 26 Feb - -   -4.30% -  
                   
  03/02 ADP Employment Change 05:15 Feb 185K -  205K -  
                   
  03/02 ISM New York 06:45 Feb  - -  54.60 -  
                   
  03/02 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  03/03 Challenger Job Cuts YoY 04:30 Feb   - -   41.60% -  
                   
  03/03 Nonfarm Productivity 05:30 4Q F  -3.30% - -3.00% -  
                   
  03/03 Initial Jobless Claims 05:30 27 Feb   271K  - 272K -  
                   
  03/03 Continuing Claims 05:30 20 Feb   2235K - 2253K -  
                   
  03/03 Markit US Services PMI 06:45 Feb F   50.00  - 49.80 -  
                   
  03/03 Markit US Composite PMI 06:45 Feb F  -  -  50.10 -  
                   
  03/03 Bloomberg Consumer Comfort 06:45 28 Feb  - -  44.20 -  
                   
  03/03 Durable Goods Orders 07:00 Jan F  - -    4.90% -  
                   
  03/03 Durables Ex Transportation 07:00 Jan F  - -   1.80% -  
                   
  03/04 Trade Balance 05:30 Jan -$43.40 B -   -$43.36 B -  
                   
  03/04 Change in Nonfarm Payrolls 05:30 Feb 193K -   151K -  
                   
  03/04 Unemployment Rate 05:30 Feb  4.90% -    4.90% -  
                   
  03/04 Average Hourly Earnings MoM 05:30 Feb  0.20% -    0.50% -  
                   
  03/04 Average Hourly Earnings YoY 05:30 Feb  2.60%  -   2.50% -  
                   
  03/04 Underemployment Rate 05:30 Feb   -  -  9.90% -  
                   
 
 
 
 
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