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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-01.5 (-04)  
 
  FN 3.5% Coupon   101-01 (-02.5)  
 
  Support   2.620%  
 
  Resistance   2.457%  
 
 
 
 
Monday, March 13, 2017
 
 
Treasury market opened up slightly worse than prior closing of 2.575% with UST 10-Year yield at 2.595%. Oil continued to drop in price, maintaining a price below $50 a barrel.

There is no economic data to be released today ahead of FOMC meeting which will commence on the 14th and announce its rate decision on the 15th at 11:00 AM (PT). Market is currently expecting a rate hike on Wednesday which has already been fully priced in. US Treasury does have 3 and 6 months bills auction scheduled at 8:30 AM (PT).

Tomorrow we get PPI, followed by Mortgage Applications, Empire Manufacturing, and CPI on Wednesday, and Jobless Claims on Thursday.

The curve has bear steepened with UST 10-Year yield up 2 bps.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/13 Labor Market Conditions Index Change 07:00 Feb 2.50 - 1.30 -  
                   
  03/14 NFIB Small Business Optimism 03:00 Feb 105.60 - 105.90 -  
                   
  03/14 PPI Final Demand MoM 05:30 Feb 0.10% - 0.60% -  
                   
  03/14 PPI Final Demand YoY 05:30 Feb 1.90% - 1.60% -  
                   
  03/15 MBA Mortgage Applications 04:00 10 Mar - - 3.30% -  
                   
  03/15 Empire Manufacturing 05:30 Mar 15.00 - 18.70 -  
                   
  03/15 CPI MoM 05:30 Feb 0.00% - 0.60% -  
                   
  03/15 CPI YoY 05:30 Feb 2.70% - 2.50% -  
                   
  03/15 Retail Sales Advance MoM 05:30 Feb 0.10% - 0.40% -  
                   
  03/15 NAHB Housing Market Index 07:00 Mar - - 65.00 -  
                   
  03/15 Business Inventories 07:00 Jan - - 0.40% -  
                   
  03/15 FOMC Rate Decision (Upper Bound) 11:00 15 Mar 0.75% - 0.75% -  
                   
  03/15 FOMC Rate Decision (Lower Bound) 11:00 15 Mar 0.50% - 0.50% -  
                   
  03/16 Housing Starts 05:30 Feb - - 1246 K -  
                   
  03/16 Housing Starts MoM 05:30 Feb - - -2.60% -  
                   
  03/16 Building Permits 05:30 Feb - - 1285 K -  
                   
  03/16 Building Permits MoM 05:30 Feb - - 4.60% -  
                   
  03/16 Initial Jobless Claims 05:30 11 Mar - - - -  
                   
  03/16 Continuing Claims 05:30 4 Mar - - - -  
                   
  03/16 Philadelphia Fed Business Outlook 05:30 Mar - - 43.30 -  
                   
  03/16 Bloomberg Consumer Comfort 06:45 12 Mar - - - -  
                   
  03/16 JOLTS Job Openings 07:00 Jan - - 5501 -  
                   
  03/17 Industrial Production MoM 06:15 Feb - - -0.30% -  
                   
  03/17 Capacity Utilization 06:15 Feb - - 75.30% -  
                   
  03/17 U. of Mich. Sentiment 07:00 Mar P - - - -  
                   
  03/17 Leading Index 07:00 Feb - - 0.60% -  
   
 
 
 
 
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