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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-08.5(-15)1.971%  
  FN 3.5% Coupon   104-23 (-07.5)  
  Support   2.40%  
 
  Resistance   1.62%  
 
 
 
 
 
Today's Blurb Thursday, March 26, 2015
 
 
        Last week fewer people filed for Jobless Claims than were expected with 282K in total vs. 291K prior (consensus 290K). This is the lowest Jobless Claims print since January 31st. Continuing claims fell by -6K to 2.416 MM vs. 2.422 MM prior (consensus 2.4MM). Markit US Composite PMI posted 58.5 vs. 57.2 prior and Markit US Services PMI came in higher than expected at 58.6 vs. 57.1 prior (consensus 57). Treasuries are selling-off following the strong Jobless Claims data which could signal a recovering labor force. The curve has bear steepened with 2s10s up +3 bps. Tomorrow we get the third release for fourth quarter GDP and expectations are for an upward revision from 2.2% to 2.4%.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/23 Existing Home Sales 07:00 Mar 4.90 MM 4.88 MM 4.82 MM -  
                   
  03/23 Existing Home Sales MoM 07:00 Feb 1.70% 1.20% -4.90% -  
                   
  03/24 CPI MoM 05:30 Feb 0.20% 0.20% -0.70% -  
                   
  03/24 CPI YoY 05:30 Feb -0.10% 0.00% -0.10% -  
                   
  03/24 FHFA House Price Index MoM 06:00 Jan 0.50% 0.30% 0.80% 0.70%  
                   
  03/24 Markit US Manufacturing PMI 06:45 Mar P 54.60 55.30 55.10 -  
                   
  03/24 New Home Sales 07:00 Feb 464K 539K 481K 500K  
                   
  03/24 New Home Sales MoM 07:00 Feb -3.50% 7.80% -0.20% 4.40%  
                   
  03/25 MBA Mortgage Applications 04:00 Mar 20 - 9.50% -3.90% -  
                   
  03/25 Durable Goods Orders 05:30 Feb 0.20% -1.40% 2.80% 2.00%  
                   
  03/26 Jobless Claims 05:30 Mar 21 290K 282K 291K -  
                   
  03/26 Continuing Claims 05:30 Mar 14 2400K 2416K 2417K 2422K  
                   
  03/26 Markit US Composite PMI 06:45 Mar P - 58.50 57.20 -  
                   
  03/26 Markit US Services PMI 06:45 Mar P 57.00 58.60 57.10 -  
                   
  03/27 GDP Annualized QoQ 05:30 4Q T 2.40% - 2.20% -  
                   
  03/27 Personal Consumption 05:30 4Q T 4.40% - 4.20% -  
                   
 
 
 
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