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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-28.5 (-05)  
 
  FN 3.5% Coupon   102-26.5 (-03)  
 
  Support   2.391%  
 
  Resistance   2.218%  
 
 
 
 
Thursday, April 13, 2017
 
 
Treasuries are slightly lower across the curve this morning. The UST 10-Year yield is currently at 2.242% after closing at 2.240% prior.

Yesterday yields rapidly plunged toward the end of the trading day as investors reacted to President Trump's comments to the Wall Street Journal when he stated that China's currency is “not a manipulator” and that the U.S. dollar is “getting too strong”.

The U.S. wholesale inflation fell in March for the first time in 7 months due to lower costs for services such as investment advice, as well as cheaper fuel for cars and homes. The Producer Price Index for final demand declined 0.10% in March versus a 0.30% advance in February and a 0.60% advance in January. Initial Jobless Claims for the week of April 8th fell 1K to 234K from an upwardly revised 235K last week, hitting the lowest level since the week of February 25th. The U.S. labor market is showing a strong sign despite a slowdown in hiring last month. Continuing Claims came in at 2028k for the week of April 1st versus 2035k prior (revised).

The curve has bear-flattened with the UST 10-Year up 0.2 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/10 Labor Market Conditions Index Change 07:00 Mar 0.80 0.40 1.30 1.50  
                   
  04/11 NFIB Small Business Optimism 03:00 Mar 104.70 104.70 105.30 -  
                   
  04/11 JOLTS Job Openings 07:00 Feb 5650 5743 5626 5625  
                   
  04/12 MBA Mortgage Applications 04:00 7 Apr - 1.50% -1.60% -  
                   
  04/12 Import Price Index MoM 05:30 Mar -0.20% -0.20% 0.20% 0.40%  
                   
  04/12 Import Price Index YoY 05:30 Mar 4.00% 4.20% 4.60% 4.80%  
                   
  04/13 PPI Final Demand MoM 05:30 Mar 0.00% -0.10% 0.30% -  
                   
  04/13 PPI Final Demand YoY 05:30 Mar 2.40% 2.30% 2.20% -  
                   
  04/13 Initial Jobless Claims 05:30 8 Apr 245 K 234 K 234 K 235 K  
                   
  04/13 Continuing Claims 05:30 1 Apr 2024 K 2028 K 2028 K 2035 K  
                   
  04/13 Bloomberg Consumer Comfort 06:45 9 Apr - 51.00 50.20 -  
                   
  04/13 U. of Mich. Sentiment 07:00 Apr P 96.50 98.00 96.90 -  
                   
  04/14 CPI MoM 05:30 Mar 0.00% - 0.10% -  
                   
  04/14 CPI YoY 05:30 Mar 2.60% - 2.70% -  
                   
  04/14 Retail Sales Advance MoM 05:30 Mar -0.10% - 0.10% -  
                   
  04/14 Business Inventories 07:00 Feb 0.30% - 0.30% -  
                   
 
 
 
 
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