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Market Commentary


 
Today's Coupons
 
  10-Year Notes   101-07 (+21) 1.864%  
 
  FN 3.5% Coupon   105-09 (+09.5)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Tuesday, April 14, 2015
 
 
       After three consecutive monthly declined Retail Sales pushed into the positive last month, at +0.9% (consensus +1.1%) and the February was revised up from -0.6% to -0.5%. March’s Retail gains were led by automobile sales which jumped +2.7% for the biggest monthly gain in a year. Excluding autos, retail sales were up +0.4% (consensus +0.7%) and February was revised up from -0.1% to 0.0%. The Producer Price Index rose in line with consensus, up +0.2% in March vs. -0.5% prior. PPI excluding Food and Energy also increased +0.2% vs. -0.5% prior. Although inflation is moving forward, it is still far below the Fed’s desired level. While Retail Sales has pushed into the positive, it disappointed market expectations leading to a treasury rally that has pushed the 10-Year yield back below 1.90%. The curve has bull flattened with 2s10s down -4.2 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/13 No Data - - - - - -  
                   
  04/14 Retail Sales Advance MoM 05:30 Mar 1.10% 0.90% -0.60% -0.50%  
                   
  04/14 PPI Final Demand MoM 05:30 Mar 0.20% 0.20% -0.50% -  
                   
  04/14 PPI Final Demand YoY 05:30 Mar -0.90% -0.80% -0.60% -  
                   
  04/15 MBA Mortgage Applications 04:00 Apr 10 - - 0.40% -  
                   
  04/15 Empire Manufacturing 05:30 Apr 7.17 - 6.90 -  
                   
  04/15 Industrial Production MoM 06:15 Mar -0.30% - 0.10% -  
                   
  04/16 Housing Starts 05:30 Mar 1040K - 897K -  
                   
  04/16 Housing Starts MoM 05:30 Mar 15.90% - -17.00% -  
                   
  04/16 Initial Jobless Claims 05:30 Apr 11 280K - 281K -  
                   
  04/16 Continuing Claims 05:30 Apr 4 2323K - 2304K -  
                   
  04/17 CPI MoM 05:30 Mar 0.30% - 0.20% -  
                   
  04/17 CPI YoY 05:30 Mar 0.00% - 0.00% -  
                   
  04/17 Leading Indicators 07:00 Mar 0.30% - 0.20% -  
                   
 
 
 
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