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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-13 (+12) 2.065%  
  FN 3.5% Coupon   104-13 (+06)  
  Support   2.40%  
 
  Resistance   1.62%  
 
 
 
 
 
Today's Blurb Thursday, March 12, 2015
 
 
      Retails Sales for February were significantly weaker than expected, pushing sales further into the negative with a -0.6% drop following a -0.8% decline the month prior (consensus +0.3%). Excluding Auto Sales, Retail Sales slipped -0.1% (consensus +0.5%) and January's number was revised down from -0.9% to -1.1%. U.S. Import Prices reversed its recent downward trend, up +0.4% in February. Import Prices fell -3.1% in January and -2.5% in December. The Import Price contraction was led by a fall in petroleum which declined a sharp -17.7% (-40.1% YoY). Exports slipped -0.1% in February led by lower agricultural prices (-2.0% vs. -1.2% prior). Initial Claims for the week ended March 7th fell -36K to 289K and the prior week was revised up from 320K to 325K. Continuing Claims fell -5K to 2418K and the prior week was revised up from 2421K to 2423K. Treasuries are up this morning following the disappointing Retail Sales data and the curve has bull flattened with 2s10s down -1.1 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/12 Retail Sales Advance MoM 05:30 Feb 0.3% -0.6% -0.8% -  
                   
  03/12 Jobless Claims 05:30 Mar 7 305K 289K 320K 325K  
                   
  03/12 Continuing Claims 05:30 Feb 28 2400K 2418K 2421K 2423K  
                   
  03/12 Import Price Index MoM 05:30 Feb 0.2% 0.4% -2.8% -3.1%  
                   
  03/12 Import Price Index YoY 05:30 Feb -8.9% -9.4% -8.0% -8.7%  
                   
  03/13 PPI Final Demand MoM 05:30 Feb 0.3% - -0.8% -  
                   
  03/13 PPI Final Demand YoY 05:30 Feb 0.0% - 0.0% -  
                   
 
 
 
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