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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-03 (-04)  
 
  FN 3.5% Coupon   99-0.5 (-03.5)  
 
  Support   2.973%  
 
  Resistance   2.719%  
 
 
 
 
Monday, April 23, 2018
 
 
Treasuries are lower than Friday at the opening of today’s session. The yield on the UST 10-Year is currently at 2.972% after closing at 2.961% during the prior session.

Today’s economic calendar prints include the Chicago Fed National Activity Index, which registered 0.10 for March, below market estimates of 0.28 and down from prior mark of 0.98 revised. Also in today, Existing Home Sales for March reached 5.60 Million, above estimated 5.55 Million and up from prior 5.54 Million mark; and month-to-month Existing Home Sales for March reflected a 1.10% change, above estimates of 0.20% but down from 3.00% prior.

On the Markit U.S. series of indices, today’s releases include preliminary April results for Manufacturing PMI, which scored 56.50, above survey of 55.20 and up from 55.60 prior; Services PMI, which scored 54.40, above survey of 54.10 and up from 54.00 prior; and Composite PMI, which scored 54.80 versus 54.20 prior.  

The curve has bear-steepened with the UST 10-Year yield up 1.1 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/23 Chicago Fed Nat Activity Index 05:30 Mar 0.28 0.10 0.88 0.98  
                   
  04/23 Markit US Manufacturing PMI 06:45 Apr P 55.20 56.50 55.60 -  
                   
  04/23 Markit US Services PMI 06:45 Apr P 54.10 54.40 54.00 -  
                   
  04/23 Markit US Composite PMI 06:45 Apr P - 54.80 54.20 -  
                   
  04/23 Existing Home Sales 07:00 Mar 5.55m 5.60m 5.54m -  
                   
  04/23 Existing Home Sales MoM 07:00 Mar 0.20% 1.10% 3.00% -  
                   
  04/24 FHFA House Price Index MoM 06:00 Feb 0.60% - 0.80% -  
                   
  04/24 S&P CoreLogic CS 20-City MoM SA 06:00 Feb 0.68% - 0.75% -  
                   
  04/24 S&P CoreLogic CS 20-City YoY NSA 06:00 Feb 6.35% - 6.40% -  
                   
  04/24 New Home Sales 07:00 Mar 630k - 618k -  
                   
  04/24 New Home Sales MoM 07:00 Mar 1.90% - -0.60% -  
                   
  04/24 Richmond Fed Manufact. Index 07:00 Apr 16.00 - 15.00 -  
                   
  04/25 MBA Mortgage Applications 04:00 20 Apr - - 4.90% -  
                   
  04/26 Wholesale Inventories MoM 05:30 Mar P 0.60% - 1.00% -  
                   
  04/26 Initial Jobless Claims 05:30 21 Apr 230k - 232k -  
                   
  04/26 Continuing Claims 05:30 14 Apr 1850k - 1863k -  
                   
  04/26 Durable Goods Orders 05:30 Mar P 1.50% - 3.00% -  
                   
  04/26 Durables Ex Transportation 05:30 Mar P 0.40% - 1.00% -  
                   
  04/26 Bloomberg Consumer Comfort 06:45 22 Apr - - 58.10 -  
                   
  04/26 Kansas City Fed Manf. Activity 08:00 Apr 17.00 - 17.00 -  
                   
  04/27 GDP Annualized QoQ 05:30 1Q A 2.00% - 2.90% -  
                   
  04/27 Personal Consumption 05:30 1Q A 1.20% - 4.00% -  
                   
  04/27 GDP Price Index 05:30 1Q A 2.20% - 2.30% -  
                   
  04/27 Core PCE QoQ 05:30 1Q A 2.50% - 1.90% -  
                   
  04/27 U. of Mich. Sentiment 07:00 Apr F 98.00 - 97.80 -  
                   
 
 
 
 
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