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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-25 (+01)  
 
  FN 3.5% Coupon   99-20.5 (+02)  
 
  Support   2.950%  
 
  Resistance   2.652%  
 
 
 
 
Monday, March 12, 2018
 
 
Treasuries are marginally higher than Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.886% after closing at 2.895% during the prior session.

The economic calendar today only features the Monthly Budget Statement for February at 11:00 AM (PT). Estimates point to a -$216 Billion deficit, which represents a wider gap than its previous -$192 Billion mark. The calendar continues tomorrow with Consumer Price Index measures for February and Hourly & Weekly Earnings. The rest of the week features MBA Mortgage Applications, Retail Sales, Producer Price Index, Imports & Exports, Initial & Continuing Jobless Claims and Manufacturing Activity.

Today, the U.S. Treasury Department is scheduled to auction $96 Billion in T-bills, $28 Billion in 3-Year notes and $21 Billion in 10-Year notes, starting at 8:30 AM (PT).

The curve has bull-flattened with the UST 10-Year yield down 0.9 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/12 Monthly Budget Statement 11:00 Feb -$216.00b - -$192.00b -  
                   
  03/13 NFIB Small Business Optimism 03:00 Feb 107.10 - 106.90 -  
                   
  03/13 CPI MoM 05:30 Feb 0.20% - 0.50% -  
                   
  03/13 CPI YoY 05:30 Feb 2.20% - 2.10% -  
                   
  03/14 MBA Mortgage Applications 04:00 9 Mar - - 0.30% -  
                   
  03/14 Retail Sales Advance MoM 05:30 Feb 0.30% - -0.30% -  
                   
  03/14 PPI Final Demand MoM 05:30 Feb 0.10% - 0.40% -  
                   
  03/14 PPI Final Demand YoY 05:30 Feb 2.80% - 2.70% -  
                   
  03/14 Business Inventories 07:00 Jan 0.60% - 0.40% -  
                   
  03/15 Empire Manufacturing 05:30 Mar 15.50 - 13.10 -  
                   
  03/15 Import Price Index MoM 05:30 Feb 0.30% - 1.00% -  
                   
  03/15 Import Price Index YoY 05:30 Feb 3.50% - 3.60% -  
                   
  03/15 Export Price Index MoM 05:30 Feb 0.30% - 0.80% -  
                   
  03/15 Export Price Index YoY 05:30 Feb - - 3.40% -  
                   
  03/15 Initial Jobless Claims 05:30 10 Mar  228k - 231k -  
                   
  03/15 Continuing Claims 05:30 3 Mar  - - 1870k -  
                   
  03/15 Philadelphia Fed Business Outlook 05:30 Mar 23.00 - 25.80 -  
                   
  03/15 Bloomberg Consumer Comfort 06:45 11 Mar - - 56.80 -  
                   
  03/15 NAHB Housing Market Index 07:00 Mar 72.00 - 72.00 -  
                   
  03/16 Housing Starts 05:30 Feb 1290k - 1326k -  
                   
  03/16 Housing Starts MoM 05:30 Feb -2.70% - 9.70% -  
                   
  03/16 Building Permits 05:30 Feb 1328k - 1396k 1377k  
                   
  03/16 Building Permits MoM 05:30 Feb -3.60% - 7.40% 5.90%  
                   
  03/16 Industrial Production MoM 06:15 Feb 0.30% - -0.10% -  
                   
  03/16 Capacity Utilization 06:15 Feb 77.70% - 77.50% -  
                   
  03/16 JOLTS Job Openings 07:00 Jan - - 5811 -  
                   
  03/16 U. of Mich. Sentiment 07:00 Mar P 99.50 - 99.70 -  
                   
 
 
 
 
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