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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-02.5 (+06.5)  
 
  FN 3.5% Coupon   99-23.5 (+05)  
 
  Support   2.950%  
 
  Resistance   2.619%  
 
 
 
 
Thursday, March 08, 2018
 
 
Treasuries are higher than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.858% after closing at 2.884% during the prior session.

This week’s economic calendar continued today with Initial Jobless Claims for the week ended March 3 reaching 231k, above consensus figure of 220k and rising from prior mark of 210k. Also in, Continuing Claims for the week ended February 24 reached 1870k, below estimates of 1920k and dropping from its previous 1934k revised. Further, year-over-year Challenger Job Cuts for February reflected a -4.30% change versus a prior mark of -2.80%. Finally, the Bloomberg Consumer Comfort Index for the week ended March 4 came in at 56.80, marginally up from its previous 56.20.

Chicago Fed President Charles Evans is scheduled to appear on several TV interviews and also discuss the economy and monetary policy on a forum in New York tomorrow; while Boston Fed President Eric Rosengren is schedule to speak on economic outlook at an event in Springfield, Massachusetts.

The curve has bull-flattened with the UST 10-Year yield down 2.6 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/05 Markit US Services PMI 06:45 Feb F 55.90 55.90 55.90 -  
                   
  03/05 Markit US Composite PMI 06:45 Feb F - 55.80 55.90 -  
                   
  03/06 Factory Orders 07:00 Jan -1.40% -1.40% 1.70% 1.80%  
                   
  03/06 Durable Goods Orders 07:00 Jan F -3.60% -3.60% -3.70% -  
                   
  03/06 Durables Ex Transportation 07:00 Jan F - -0.30% -0.30% -  
                   
  03/07 MBA Mortgage Applications 04:00 2 Mar - 0.30% 2.70% -  
                   
  03/07 ADP Employment Change 05:15 Feb 200k 235k 234k 244k  
                   
  03/07 Nonfarm Productivity 05:30 4Q F -0.10% 0.00% -0.10% -  
                   
  03/07 Trade Balance 05:30 Jan -$55.00b -$56.60b -$53.10b -$53.90b  
                   
  03/07 Consumer Credit 12:00 Jan $17.650b $13.906b $18.447b $19.209b  
                   
  03/08 Challenger Job Cuts YoY 04:30 Feb - -4.30% -2.80% -  
                   
  03/08 Initial Jobless Claims 05:30 3 Mar  220k 231k 210k -  
                   
  03/08 Continuing Claims 05:30 24 Feb 1920k 1870k 1931k 1934k  
                   
  03/08 Bloomberg Consumer Comfort 06:45 4 Mar - 56.80 56.20 -  
                   
  03/09 Change in Nonfarm Payrolls 05:30 Feb 205k - 200k -  
                   
  03/09 Unemployment Rate 05:30 Feb 4.00% - 4.10% -  
                   
  03/09 Underemployment Rate 05:30 Feb - - 8.20% -  
                   
  03/09 Average Hourly Earning MoM 05:30 Feb 0.20% - 0.30% -  
                   
  03/09 Average Hourly Earning YoY 05:30 Feb 2.80% - 2.90% -  
                   
  03/09 Labor Force Participation Rate 05:30 Feb 62.70% - 62.70% -  
                   
  03/09 Wholesale Inventories MoM 07:00 Jan F 0.70% - 0.70% -  
                   
  03/09 Wholesale Trade Sales MoM 07:00 Jan - - 1.20% -  
                   
 
 
 
 
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