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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-19.5 (-0.5) 1.893%  
 
  FN 3.5% Coupon   104-14.5 (00)  
 
  Support   2.050%  
 
  Resistance   1.700%  
 
 
 
 
Today's Blurb Monday, April 25, 2016
 
 
           We have a heavy calendar this week with data on Home Sales/Prices, Goods Orders, Gross Domestic Product, Consumer Income and the upcoming FOMC statement. Tomorrow marks the beginning of the two day FOMC meeting along with the release of S&P HPI (consensus +0.80% vs. +0.80% prior), Wednesday we get the statement and Pending Home Sales (consensus +0.50% vs. +3.50% prior), first quarter GDP (expected +0.60% vs. +1.40% prior) on Thursday, followed by Personal Income (consensus +0.30% vs. +0.20% prior) and Spending (consensus +0.20% vs. +0.10% prior) on Friday. March New Home Sales posted 511K (consensus 520K) with an upward revision in February from 512K to 519K. The 511K Sales number represents a -1.50% contraction MoM vs. consensus for a +1.60% advance. Treasuries are hovering near Friday's 2:00 PM (PT) close levels and the curve has flattened with 2s10s down 0.5 bp.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/25 New Home Sales 07:00 Mar 520K 511K 512K 519K  
                   
  04/25 New Home Sales MoM 07:00 Mar  1.60% -1.50% 2.00% -0.40%  
                   
  04/25 Dallas Fed Manf. Activity 07:30 Apr -10.00 -13.90 -13.60 -  
                   
  04/26 Durable Goods Orders 05:30 Mar P   1.90% -  -3.00% -  
                   
  04/26 Durables Ex Transportation 05:30 Mar P  0.50% -  -1.30% -  
                   
  04/26 S&P/Case-Shiller US HPI MoM SA 06:00 Feb - - 0.52% -  
                   
  04/26 S&P/Case-Shiller US HPI YoY NSA 06:00 Feb - - 5.43% -  
                   
  04/26 Markit US Services PMI 06:45 Apr P 52.00 - 51.30 -  
                   
  04/26 Markit US Composite PMI 06:45 Apr P - - 51.30 -  
                   
  04/26 Consumer Confidence Index 07:00 Apr 95.90 - 96.20 -  
                   
  04/26 Richmond Fed Manufact. Index 07:00 Apr 12.00 - 22.00 -  
                   
  04/27 MBA Mortgage Applications 04:00 22 Apr  - - 1.30% -  
                   
  04/27 Pending Home Sales MoM 07:00 Mar - - - -  
                   
  04/27 FOMC Rate Decision (Upper Bound) 11:00 27 Apr 0.50% - 0.50% -  
                   
  04/27 FOMC Rate Decision (Lower Bound) 11:00 27 Apr 0.25% - 0.25% -  
                   
  04/28 Initial Jobless Claims 05:30 23 Apr - - - -  
                   
  04/28 GDP Annualized QoQ 05:30 1Q A - - 1.40% -  
                   
  04/28 Continuing Claims 05:30 16 Apr - - - -  
                   
  04/28 Personal Consumption 05:30 1Q A - - 2.40% -  
                   
  04/28 GDP Price Index 05:30 1Q A - - 0.90% -  
                   
  04/28 Bloomberg Consumer Comfort 06:45 24 Apr - - - -  
                   
  04/28 Kansas City Fed Manf. Activity 08:00 Apr - - -6.00 -  
                   
  04/29 PCE Deflator MoM 05:30 Mar - - - -  
                   
  04/29 PCE Deflator YoY 05:30 Mar - - - -  
                   
  04/29 PCE Core MoM 05:30 Mar - -  - -  
                   
  04/29 PCE Core YoY 05:30 Mar - - - -  
                   
  04/29 ISM Milwaukee 06:00 Apr - -   - -  
                   
  04/29 U. of Mich. Sentiment 07:00 Apr F - - - -  
                   
 
 
 
 
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