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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-01.5 (+01.5)  
 
  FN 3.5% Coupon   99-22.5 (+01)  
 
  Support   2.950%  
 
  Resistance   2.652%  
 
 
 
 
Tuesday, March 13, 2018
 
 
Treasuries are higher than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.860% after closing at 2.869% during the prior session.

The economic calendar today features month-over-month CPI for February reflecting a 0.20% change, in line with market estimates but down from prior 0.50%; while year-over-year CPI for February came in at 2.20%, also in line with market estimates and slightly above its 2.10% prior. Further, month-over-month CPI Ex Food and Energy for February reflected a 0.20% change, in line with estimates but slightly below its 0.30% prior; while year-over-year CPI Ex Food and Energy for February came in at 1.80%, in line with estimates and prior mark.

Also in today, year-over-year Real Average Weekly Earnings for February came in at 0.60%, matching prior revised mark; and year-over-year Real Average Hourly Earnings for February came in at 0.40%, versus prior 0.70% revised. Finally, NFIB Small Business Optimism for February registered 107.60, slightly above estimates of 107.10 and above prior mark of 106.90.   

The U.S. Treasury Department continues today this week’s auction with the issuance of $13 Billion of 30-Year bonds starting at 10:00 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 -$215.20b -$192.00b -  
                   
  03/13 NFIB Small Business Optimism 03:00 Feb 107.10 107.60 106.90 -  
                   
  03/13 CPI MoM 05:30 Feb 0.20% 0.20% 0.50% -  
                   
  03/13 CPI YoY 05:30 Feb 2.20% 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 15.00 - 13.10 -  
                   
  03/15 Import Price Index MoM 05:30 Feb 0.20% - 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  1903k - 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 1320k - 1396k 1377k  
                   
  03/16 Building Permits MoM 05:30 Feb -4.10% - 7.40% 5.90%  
                   
  03/16 Industrial Production MoM 06:15 Feb 0.40% - -0.10% -  
                   
  03/16 Capacity Utilization 06:15 Feb 77.70% - 77.50% -  
                   
  03/16 JOLTS Job Openings 07:00 Jan 5900 - 5811 -  
                   
  03/16 U. of Mich. Sentiment 07:00 Mar P 99.20 - 99.70 -  
                   
 
 
 
 
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