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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-14 (+07.5)  
 
  FN 3.5% Coupon   102-26.5 (+05)  
 
  Support   2.286%  
 
  Resistance   2.429%  
 
 
 
 
Friday, April 7, 2017
 
 

Treasuries are modestly higher across the curve this morning from previous close as investors fled riskier assets to safe-haven investments overnight after the U.S. struck an attack on a Syrian airbase late yesterday. The UST 10-Year yield is currently at 2.318% after closing at 2.342% prior.

The UST 10-Year yield briefly touched 2.280% after the U.S. launched a targeted cruise missile against a Syrian airbase, pushing the yield to its lowest level since November. Oil prices jumped to a 1-month high of $52.68 per barrel, and the dollar also saw a 3-week high as a result of this attack.

The March employment data came in 82k below expectations, reporting that the U.S. created only 98k new jobs for the month versus a downwardly revised 219k in February. Analysts are pointing to the early March winter storms as the likely reason for the disappointing jobs report. The unemployment rate fell to 4.50% in March from 4.70% in February. Employment showed increases in professional and business services and in mining, while retailers reportedly lost jobs.

The curve has bull-flattened with the UST 10-Year down 2.4 bps from prior closing.

Have A Fantastic Weekend!

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/03 Markit US Manufacturing PMI 06:45 Mar F 53.50 53.30 53.40 -  
                   
  04/03 ISM Manufacturing 07:00 Mar 57.20 57.20 57.70 -  
                   
  04/03 ISM Prices Paid 07:00 Mar 66.00 70.50 68.00 -  
                   
  04/03 Construction Spending MoM 07:00 Feb 1.00% 0.80% -1.00% -0.40%  
                   
  04/04 Trade Balance 05:30 Feb -$44.60 B -$43.60 B -$48.50 B -$48.20 B  
                   
  04/04 Factory Orders 07:00 Feb 1.00% 1.00% 1.20% 1.50%  
                   
  04/04 Durable Goods Orders 07:00 Feb F 1.70% 1.80% 1.70% -  
                   
  04/04 Durables Ex Transportation 07:00 Feb F - 0.50% 0.40% -  
                   
  04/05 MBA Mortgage Applications 04:00 31 Mar - -1.60% -0.80% -  
                   
  04/05 ADP Employment Change 05:15 Mar 185 K 263 K 298 K 245 K  
                   
  04/05 Markit US Services PMI 06:45 Mar F 53.10 52.80 52.90 -  
                   
  04/05 Markit US Composite PMI 06:45 Mar F - 53.00 53.20    
                   
  04/05 FOMC Meeting Minutes 11:00 15 Mar - - - -  
                   
  04/06 Challenger Job Cuts YoY 04:30 Mar - -2.00% -40.00% -  
                   
  04/06 Initial Jobless Claims 05:30 1 Apr 250 K 234 K 258 K 259 K  
                   
  04/06 Continuing Claims 05:30 25 Mar 2030 K 2028 K 2052 K -  
                   
  04/06 Bloomberg Consumer Comfort 06:45 2 Apr - - 49.70 -  
                   
  04/07 Change in Nonfarm Payrolls 05:30 Mar 180 K 98 K 235 K 219 K  
                   
  04/07 Unemployment Rate 05:30 Mar 4.70% 4.50% 4.70% -  
                   
  04/07 Average Hourly Earnings MoM 05:30 Mar 0.20% 0.20% 0.20% 0.30%  
                   
  04/07 Average Hourly Earnings YoY 05:30 Mar 2.70% 2.70% 2.80% -  
                   
  04/07 Labor Force Participation Rate 05:30 Mar - 63.00% 63.00% -  
                   
  04/07 Underemployment Rate 05:30 Mar - 8.90% 9.20% -  
                   
  04/07 Wholesale Trade Sales MoM 07:00 Feb - 0.60% -0.10% 0.30%  
                   
  04/07 Wholesale Inventories MoM 07:00 Feb F 0.40% 0.40% 0.40% -  
                   
 
 
 
 
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