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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-10 (+12) 1.965%  
  FN 3.5% Coupon   104-24 (+05.5)  
  Support   2.40%  
 
  Resistance   1.62%  
 
 
 
 
 
Today's Blurb Friday, March 27, 2015
 
 
     The third estimate for Gross Domestic Product (GDP) in the fourth quarter of 2014 remained unchanged from the second estimate, disappointing market expectations for a 0.2% advance. GDP (QoQ) posted 2.2% and is up an annual 2.4% (YoY). Personal Consumption Expenditures was revised up from 4.2% to 4.4% and core Personal Consumption Expenditures was flat to the prior estimate at 1.1%. Growth in the fourth quarter has decelerated sharply from the firm growth in quarters two and three of 2014, signaling what may be a speed bump in the U.S. recovery. Treasuries got a boost this morning following the disappointing GDP print and the curve has bull flattened with 2s10s down -0.5 bps.
 
Have a great weekend!
 
 
   
 
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% 2.20% -  
                   
  03/27 Personal Consumption 05:30 4Q T 4.40% 4.40% 4.20% -  
                   
 
 
 
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