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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-29 (-05.5)  
 
  FN 3.5% Coupon   100-01.5 (-04.5)  
 
  Support   2.950%  
 
  Resistance   2.737%  
 
 
 
 
Monday, April 02, 2018
 
 
Treasuries are lower than Thursday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.765% after closing at 2.740% during the prior session.

The economic calendar for the first week of April kicked off today with month-over-month Construction Spending for February rising 0.10% versus previous mark of 0.00%, but falling short of estimated 0.40%. Also released today, forecast Markit U.S. Manufacturing PMI for March reached 55.60, slightly below both prior mark and estimated 55.70; while ISM Manufacturing for March reached 59.30, below survey of 59.60 and down from previous 60.80. Further, ISM Employment for March reflected 57.30 versus prior mark of 59.70, while ISM New Orders for March reflected 61.90 versus prior mark of 64.20. 

Minneapolis Fed President Kashkari speaks today on monetary policy and the economy at a student town hall in Minnesota.

The curve has bear-steepened with the UST 10-Year yield up 2.5 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/02 Markit US Manufacturing PMI 06:45 Mar F 55.70 55.60 55.70 -  
                   
  04/02 Construction Spending MoM 07:00 Feb 0.40% 0.10% 0.00% -  
                   
  04/02 ISM Manufacturing 07:00 Mar 59.60 59.30 60.80 -  
                   
  04/02 ISM Prices Paid 07:00 Mar 72.50 78.10 74.20 -  
                   
  04/03 No Data - - - - - -  
                   
  04/04 MBA Mortgage Applications 04:00 30 Mar - - 4.80% -  
                   
  04/04 ADP Employment Change 05:15 Mar 210k - 235k -  
                   
  04/04 Markit US Services PMI 06:45 Mar F 54.20 - 54.10 -  
                   
  04/04 Markit US Composite PMI 06:45 Mar F - - 54.30 -  
                   
  04/04 Factory Orders 07:00 Feb 1.70% - -1.40% -  
                   
  04/04 Durable Goods Orders 07:00 Feb F - - 3.10% -  
                   
  04/04 Durables Ex Transportation 07:00 Feb F - - 1.20% -  
                   
  04/05 Challenger Job Cuts YoY 04:30 Mar - - -4.30% -  
                   
  04/05 Initial Jobless Claims 05:30 31 Mar 225k - 215k -  
                   
  04/05 Continuing Claims 05:30 24 Mar 1843k - 1871k -  
                   
  04/05 Trade Balance 05:30 Feb -$56.80b - -$56.60b -  
                   
  04/05 Bloomberg Consumer Comfort 06:45 1 Apr - - 56.80 -  
                   
  04/06 Change in Nonfarm Payrolls 05:30 Mar 185k - 313k -  
                   
  04/06 Unemployment Rate 05:30 Mar 4.00% - 4.10% -  
                   
  04/06 Average Hourly Earnings MoM 05:30 Mar 0.30% - 0.10% -  
                   
  04/06 Average Hourly Earnings YoY 05:30 Mar 2.70% - 2.60% -  
                   
  04/06 Labor Force Participation Rate 05:30 Mar - - 63.00% -  
                   
 
 
 
 
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