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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-11 (-05)  
 
  FN 3.5% Coupon   99-30 (-01.5)  
 
  Support   2.950%  
 
  Resistance   2.719%  
 
 
 
 
Thursday, April 05, 2018
 
 
Treasuries are lower than yesterday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.822% after closing at 2.804% during the prior session.

Challenger Job Cuts for March rose by 39.40% from the same period a year ago, when the mark came in at -4.30%. Further, Initial Jobless Claims for the week ended March 31 rose to 242K, above survey of 225K and up from prior mark of 218K revised; while Continuing Claims for the week ended March 24 dropped to 1808K from previous revised mark of 1872K and staying under estimates of 1843K. Also in today, the Trade Balance for February came in at -$57.60 Billion, a wider deficit than the estimated -$56.80 Billion and wider than the previous revised mark of -$56.70 Billion. Finally, the print for the Bloomberg Consumer Comfort Index for the week ended on April 1st came in at 57.20 versus previous 56.80. 

Atlanta Fed President Bostic is scheduled to be interviewed on Bloomberg television this morning and is also scheduled to address a crowd on financial literacy in Sarasota, Florida later in the day.

The U.S. Treasury announced today auction sizes of $30 Billion in 3-Year notes, $21 Billion in 10-Year notes and $13 Billion in 30-Year bonds for next week’s debt issuance. 

The curve has bear-steepened with the UST 10-Year yield up 1.8 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 - -3.30% 4.80% -  
                   
  04/04 ADP Employment Change 05:15 Mar 210k 241k 235k 246k  
                   
  04/04 Markit US Services PMI 06:45 Mar F 54.20 54.00 54.10 -  
                   
  04/04 Markit US Composite PMI 06:45 Mar F - 54.20 54.30 -  
                   
  04/04 Factory Orders 07:00 Feb 1.70% 1.20% -1.40% -1.30%  
                   
  04/04 Durable Goods Orders 07:00 Feb F - 3.00% 3.10% -  
                   
  04/04 Durables Ex Transportation 07:00 Feb F - 1.00% 1.20% -  
                   
  04/05 Challenger Job Cuts YoY 04:30 Mar - 39.40% -4.30% -  
                   
  04/05 Initial Jobless Claims 05:30 31 Mar 225k 242k 215k 218k  
                   
  04/05 Continuing Claims 05:30 24 Mar 1843k 1808k 1871k 1872k  
                   
  04/05 Trade Balance 05:30 Feb -$56.80b -$57.60b -$56.60b -$56.70b  
                   
  04/05 Bloomberg Consumer Comfort 06:45 1 Apr - 57.20 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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