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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-11.5 (+10) 2.074%  
  FN 3.5% Coupon   104-10 (+04)  
  Support   2.40%  
 
  Resistance   1.62%  
 
 
 
 
 
Today's Blurb Monday, March 16, 2015
 
 
     This week’s focus is on the FOMC meeting and Wednesday’s statement release. We watch for any changes to the “patient” clause following the recent strong Payrolls Report. With continued strength in the employment sector, stagnant wage growth and no inflation gains we hope to get more insight into how the Fed views the current economic condition. The dollar fell from the strongest level against the Euro since 2003 ahead of the FOMC statement release this week.
 
    Empire Manufacturing for March fell to 6.9 vs. 7.78 prior (consensus 8.0). Industrial Production increased +0.1% in February (consensus +0.2%), and January’s number was revised down from +0.2% to -0.3%. Capacity Utilization slipped to 78.9% (consensus 79.5%), and the prior month’s was revised down from 79.4% to 79.1%. Treasuries are getting a boost this morning following the data dump and the curve has bull flattened with 2s10s down -3.2 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/16 Empire Manufacturing 05:30 Mar 8.00 6.90 7.78 -  
                   
  03/16 Industrial Production MoM 06:15 Feb 0.20% 0.10% 0.20% -0.30%  
                   
  03/16 Capacity Utilization 06:15 Feb 79.50% 78.90% 79.40% 79.10%  
                   
  03/17 Housing Starts 05:30 Feb 1040K - 1065K -  
                   
  03/17 Housing Starts MoM 05:30 Feb -2.40% - -2.00% -  
                   
  03/17 Building Permits 05:30 Feb 1065K - 1053K 1060K  
                   
  03/17 Building Permits MoM 05:30 Feb 0.50% - -0.70% 0.00%  
                   
  03/18 MBA Mortgage Applications 04:00 Mar 13 - - -1.30% -  
                   
  03/18 FOMC Rate Decision (Upper Bound) 11:00 Mar 18 0.25% - 0.25% -  
                   
  03/18 FOMC Rate Decision (Lower Bound) 11:00 Mar 18 - - 0.00% -  
                   
  03/19 Current Account Balance 05:30 4Q -$104.10 Bn - -$100.30 Bn -  
                   
  03/19 Jobless Claims 05:30 Mar 14 294K - 289K -  
                   
  03/19 Continuing Claims 05:30 Mar 7 2400K - 2418K -  
                   
  03/19 Leading Index 07:00 Feb 0.20% - 0.20% -  
                   
  03/20 No Data - - - - - -  
                   
 
 
 
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