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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-16 (-03)  
 
  FN 3.5% Coupon   102-23 (-0.5)  
 
  Support   2.349%  
 
  Resistance   2.197%  
 
 
 
 
Friday, April 28, 2017
 
 
Market opened today with treasuries selling off across all maturities. 10-Year treasury yield is at 2.309, increased 1.4 bps from prior closing of 2.295.

The highlight of today's economic data was stumbling Real GDP growth which printed at 0.70% vs. 1.00% consensus. This indicates that US economy expanded at the worst pace in three years last quarter which puts all the more significance on next week's payroll numbers. On the other hand, Chicago PMI came in at 58.30 vs. consensus of 56.20, signaling expansion. University of Michigan survey showed consumer sentiment was slightly changed in April at 97.00 vs. 98.00 prior.

On top of aforementioned Non-Farm payroll data being released next week, FOMC rate decision will also be released on 5/3/17 at 11:00 AM (PT).

The curve has bear steepened with UST 10-Year yield up 1.4 bps.

Have A Fantastic Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/24 Chicago Fed Nat Activity Index 05:30 Mar 0.50 0.08 0.34 0.27  
                   
  04/24 Dallas Fed Manf. Activity 07:30 Apr 17.00 16.80 16.90 -  
                   
  04/25 FHFA House Price Index MoM 06:00 Feb 0.40% 0.80% 0.00% 0.20%  
                   
  04/25 S&P CoreLogic CS 20-City MoM SA 06:00 Feb 0.72% 0.69% 0.86% -  
                   
  04/25 S&P CoreLogic CS 20-City YoY NSA 06:00 Feb 5.78% 5.85% 5.73% 5.66%  
                   
  04/25 New Home Sales 07:00 Mar 584k 621k 592k 587k  
                   
  04/25 New Home Sales MoM 07:00 Mar -1.40% 5.80% 6.10% 0.30%  
                   
  04/25 Richmond Fed Manufact. Index 07:00 Apr 16.00 20.00 22.00 -  
                   
  04/26 MBA Mortgage Applications 04:00 21 Apr - 2.70% -1.80% -  
                   
  04/27 Wholesale Inventories MoM 05:30 Mar P 0.20% -0.10% 0.40% 0.20%  
                   
  04/27 Durable Goods Orders 05:30 Mar P 1.30% 0.70% 1.80% 2.30%  
                   
  04/27 Durables Ex Transportation 05:30 Mar P 0.40% -0.20% 0.50% 0.70%  
                   
  04/27 Initial Jobless Claims 05:30 22 Apr 245k 257k 244k 243k  
                   
  04/27 Continuing Claims 05:30 15 Apr 2007k 1988k 1979k 1978k  
                   
  04/27 Bloomberg Consumer Comfort 06:45 23 Apr - 50.80 49.90 -  
                   
  04/27 Pending Home Sales MoM 07:00 Mar -1.00% -0.80% 5.50% -  
                   
  04/27 Pending Home Sales NSA YoY 07:00 Mar - 0.50% -2.40% -  
                   
  04/27 Kansas City Fed Manf. Activity 08:00 Apr 17.00 7.00 20.00 -  
                   
  04/28 GDP Annualized QoQ 05:30 1Q A 1.00% 0.70% 2.10% -  
                   
  04/28 Personal Consumption 05:30 1Q A 0.90% 0.30% 3.50% -  
                   
  04/28 GDP Price Index 05:30 1Q A 2.00% 2.30% 2.10% -  
                   
  04/28 Core PCE QoQ 05:30 1Q A 2.00% 2.00% 1.30% -  
                   
  04/28 U. of Mich. Sentiment 07:00 Apr F 98.00 97.00 98.00 -  
                   
 
 
 
 
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