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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-11 (-03.5)  
 
  FN 3.5% Coupon   99-26.5 (-01)  
 
  Support   2.950%  
 
  Resistance   2.797%  
 
 
 
 
Monday, March 26, 2018
 
 
Treasuries are lower than Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.833% after closing at 2.814% during the prior session.

The February print for the Chicago Fed National Activity Index came in today at 0.88; higher than market estimates of 0.15 and rising from previous mark of 0.02 revised. Also in today, the Dallas Fed Manufacturing Outlook of Business Activity for March came in at 21.40, below survey of 33.50 and dropping from previous mark of 37.20. The calendar for the rest of the week features the S&P CoreLogic CS, Mortgage Applications, GDP, Wholesale Inventories and Inflation among others.

Further, the U.S, Treasury is scheduled to auction today $96 Billion in 3-months and 6-months bills at 8:30 AM (PT); $30 Billion in 2-year notes at 11:00 AM (PT); and $35 Billion in 5-years and $29 Billion in 7-year later in the week.  

Today NY Fed President Dudley is schedule to speak in Washington on financial regulation, while Cleveland Fed President Mester is schedule to speak on monetary policy in Princeton and Fed Vice Chair Quarles speaks at a forum in Atlanta.

The curve has bear-flattened with the UST 10-Year yield up 1.9 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/26 Chicago Fed Nat Activity Index 05:30 Feb 0.15 0.88 0.12 0.02  
                   
  03/26 Dallas Fed Manf. Activity 07:30 Mar 33.50 21.40 37.20 -  
                   
  03/27 S&P CoreLogic CS 20-City MoM SA 06:00 Jan 0.60% - 0.64% -  
                   
  03/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Jan 6.15% - 6.30% -  
                   
  03/27 Richmond Fed Manufact. Index 07:00 Mar 22.00 - 28.00 -  
                   
  03/28 MBA Mortgage Applications 04:00 23 Mar - - -1.10% -  
                   
  03/28 Wholesale Inventories MoM 05:30 Feb P 0.50% - 0.80% -  
                   
  03/28 GDP Annualized QoQ 05:30 4Q T 2.70% - 2.50% -  
                   
  03/28 Personal Consumption 05:30 4Q T  3.80% - 3.80% -  
                   
  03/28 GDP Price Index 05:30 4Q T  2.30% - 2.30% -  
                   
  03/28 Core PCE QoQ 05:30 4Q T   1.90% - 1.90% -  
                   
  03/28 Pending Home Sales MoM 07:00 Feb 2.00% - -4.70% -  
                   
  03/28 Pending Home Sales NSA YoY 07:00 Feb - - -1.70% -  
                   
  03/29 PCE Core YoY 05:30 Feb 1.60% - 1.50% -  
                   
  03/29 Personal Income 05:30 Feb 0.40% - 0.40% -  
                   
  03/29 Personal Spending 05:30 Feb 0.20% - 0.20% -  
                   
  03/29 PCE Deflator MoM 05:30 Feb 0.20% - 0.40% -  
                   
  03/29 PCE Deflator YoY 05:30 Feb 1.70% - 1.70% -  
                   
  03/29 PCE Core MoM 05:30 Feb 0.20% - 0.30% -  
                   
  03/29 Initial Jobless Claims 05:30 24 Mar  230k - 229k -  
                   
  03/29 Continuing Claims 05:30 17 Mar  1870k - 1828k -  
                   
  03/29 Bloomberg Consumer Comfort 06:45 25 Mar - - 56.80 -  
                   
  03/29 U. of Mich. Sentiment 07:00 Mar F 102.00 - 102.00 -  
                   
  03/30 No Data - - - - - -  
                   
 
 
 
 
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