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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-13 (00)  
 
  FN 3.5% Coupon   99-25.5 (-01)  
 
  Support   2.950%  
 
  Resistance   2.652%  
 
 
 
 
Thursday, March 15, 2018
 
 
Treasuries are higher than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.811% after closing at 2.818% during the prior session.

Released today, Initial Jobless Claims figures for the week ended March 10 came in at 226k, lower than the 228k expected and down from prior 230k revised.  Also in today, Continuing Jobless Claims for the week ended March 3 rose to 1879k versus prior revised 1875k but staying below estimates of 1903k. Empire Manufacturing for March rose to 22.50, above estimates of 15.00 and up from prior 13.10.

Further, the Philadelphia Fed Business Outlook Index for March came in at 22.30, below estimates of 23.00 and down from 25.80; while the Bloomberg Consumer Comfort Index dropped slightly to 56.20 from prior 56.80 for the week ended on March 11. Finally, the NAHB Homebuilder Confidence Index for March fell to 70.00 from prior 71.00.

The curve has bull-flattened with the UST 10-Year yield down 0.7 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 - 0.90% 0.30% -  
                   
  03/14 Retail Sales Advance MoM 05:30 Feb 0.30% -0.10% -0.30% -0.10%  
                   
  03/14 PPI Final Demand MoM 05:30 Feb 0.10% 0.20% 0.40% -  
                   
  03/14 PPI Final Demand YoY 05:30 Feb 2.80% 2.80% 2.70% -  
                   
  03/14 Business Inventories 07:00 Jan 0.60% 0.60% 0.40% 0.60%  
                   
  03/15 Empire Manufacturing 05:30 Mar 15.00 22.50 13.10 -  
                   
  03/15 Import Price Index MoM 05:30 Feb 0.20% 0.40% 1.00% 0.80%  
                   
  03/15 Import Price Index YoY 05:30 Feb 3.50% 3.50% 3.60% 3.40%  
                   
  03/15 Export Price Index MoM 05:30 Feb 0.30% 0.20% 0.80% -  
                   
  03/15 Export Price Index YoY 05:30 Feb - 3.30% 3.40% -  
                   
  03/15 Initial Jobless Claims 05:30 10 Mar  228k 226k 231k 230k  
                   
  03/15 Continuing Claims 05:30 3 Mar  1903k 1879k 1870k 1875k  
                   
  03/15 Philadelphia Fed Business Outlook 05:30 Mar 23.00 22.30 25.80 -  
                   
  03/15 Bloomberg Consumer Comfort 06:45 11 Mar - 56.20 56.80 -  
                   
  03/15 NAHB Housing Market Index 07:00 Mar 72.00 70.00 72.00 71.00  
                   
  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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