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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-03.5 (+03)  
 
  FN 3.5% Coupon   99-28.5 (+02)  
 
  Support   2.950%  
 
  Resistance   2.607%  
 
 
 
 
Thursday, March 01, 2018
 
 
Treasuries are higher than yesterday at the opening of today's session. The yield on the UST 10-Year is currently at 2.841% after closing at 2.862% during the prior session.

The economic calendar for today features Personal Income for January, which rose 0.40%, matching prior mark and slightly above survey of 0.30%; Personal Spending for January, which rose 0.20%, matching survey but dropping from its 0.40% prior; and Real Personal Spending for January, which reflected a -0.10%, matching survey and lower from its previous 0.20% revised. Also in today, Initial Jobless Claims for the week ended February 24 reached 210k, lower than the 225k estimated and dropping from its previous 220k revised; while Continuing Claims for the week ended February 17 reached 1931k, above survey of 1925k and rising from its previous 1874k revised. Finally, forecast Markit Manufacturing PMI for February reflected 55.30, versus estimates and prior mark of 55.90; while Bloomberg Consumer Comfort for the week ended February 25 registered 56.20 down from 56.60 prior.

The curve has bull-flattened with the UST 10-Year yield down 2.1 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/26 Chicago Fed Nat Activity Index 05:30 Jan 0.25 0.12 0.27 0.14  
                   
  02/26 New Home Sales 07:00 Jan 647k 593k 625k 643k  
                   
  02/26 New Home Sales MoM 07:00 Jan 3.50% -7.80% -9.30% -7.60%  
                   
  02/26 Dallas Fed Manf. Activity 07:30 Feb 30.00 37.20 33.40 -  
                   
  02/27 Wholesale Inventories MoM 05:30 Jan P 0.40% 0.70% 0.40% 0.60%  
                   
  02/27 Durable Goods Orders 05:30 Jan P -2.00% -3.70% 2.80% 2.60%  
                   
  02/27 Durables Ex Transportation 05:30 Jan P 0.40% -0.30% 0.70% -  
                   
  02/27 FHFA House Price Index MoM 06:00 Dec 0.40% 0.30% 0.40% 0.50%  
                   
  02/27 S&P CoreLogic CS 20-City MoM SA 06:00 Dec 0.60% 0.64% 0.75% 0.74%  
                   
  02/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Dec 6.35% 6.30% 6.41% 6.36%  
                   
  02/27 Richmond Fed Manufact. Index 07:00 Feb 15.00 28.00 14.00 -  
                   
  02/28 MBA Mortgage Applications 04:00 23 Feb - 2.70% -6.60% -  
                   
  02/28 Personal Consumption 05:30 4Q S 3.60% 3.80% 3.80% -  
                   
  02/28 GDP Annualized QoQ 05:30 4Q S 2.50% 2.50% 2.60% -  
                   
  02/28 GDP Price Index 05:30 4Q S 2.40% 2.30% 2.40% -  
                   
  02/28 Core PCE QoQ 05:30 4Q S 1.90% 1.90% 1.90% -  
                   
  02/28 Pending Home Sales MoM 07:00 Jan 0.50% -4.70% 0.50% 0.00%  
                   
  02/28 Pending Home Sales NSA YoY 07:00 Jan - -1.70% -1.80% -  
                   
  03/01 Personal Income 05:30 Jan 0.30% 0.40% 0.40% -  
                   
  03/01 Personal Spending 05:30 Jan 0.20% 0.20% 0.40% -  
                   
  03/01 PCE Deflator MoM 05:30 Jan 0.40% 0.40% 0.10% -  
                   
  03/01 PCE Deflator YoY 05:30 Jan 1.70% 1.70% 1.70% -  
                   
  03/01 PCE Core MoM 05:30 Jan 0.30% 0.30% 0.20% -  
                   
  03/01 PCE Core YoY 05:30 Jan 1.50% 1.50% 1.50% -  
                   
  03/01 Initial Jobless Claims 05:30 24 Feb 225k 210k 222k 220k  
                   
  03/01 Continuing Claims 05:30 17 Feb 1925k 1931k 1875k 1874k  
                   
  03/01 Bloomberg Consumer Comfort 06:45 25 Feb - 56.20 56.60 -  
                   
  03/01 Markit US Manufacturing PMI 06:45 Feb F 55.90 55.30 55.90 -  
                   
  03/01 Construction Spending MoM 07:00 Jan 0.30% 0.00% 0.70% 0.80%  
                   
  03/01 ISM Manufacturing 07:00 Feb 58.70 60.80 59.10 -  
                   
  03/02 U. of Mich. Sentiment 07:00 Feb F 99.50 - 99.90 -  
                   
 
 
 
 
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