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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-29.5 (-06.5) 1.858%  
 
  FN 3.5% Coupon   104-22 (-02.5)  
 
  Support   2.050%  
 
  Resistance   1.700%  
 
 
 
 
Today's Blurb Monday, May 2, 2016
 
 
         This week we get data on Manufacturing, Trade, Nonfarm Payrolls and Unemployment. Markit US Manufacturing PMI posted in line with expectations at 50.80 in April, according to the final estimate. ISM Manufacturing came in under consensus in April at 50.80 (consensus 51.40) following 51.80 in March. Friday's Nonfarm Payrolls Report is expected to continue a solid trend with a 200K rise in April vs. 215K prior, the Unemployment rate is expected to edge down to 4.90% vs. 5.00% prior, and average hourly earnings are expected to show a second 0.30% monthly advance. Treasuries are hovering just below Friday's 2:00 PM (PT) close and the curve has steepened with 2s10s up 0.7 bp.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/02 Markit US Manufacturing PMI 06:45 Apr F 50.80 50.80 50.80 -  
                   
  05/02 ISM Manufacturing 07:00 Apr 51.40 50.80  51.80 -  
                   
  05/02 Construction Spending MoM 07:00 Mar  0.50%  0.30%  -0.50% 1.00%  
                   
  05/03 ISM New York 06:45 Apr - - 50.40 -  
                   
  05/04 MBA Mortgage Applications 04:00 29 Apr - -  -4.10% -  
                   
  05/04 ADP Employment Change 05:15 Apr 195K - 200K -  
                   
  05/04 Trade Balance 05:30 Mar -$41.30 B - -$47.10 B -  
                   
  05/04 Nonfarm Productivity 05:30 1Q P -1.30% -    -2.20% -  
                   
  05/04 Markit US Services PMI 06:45 Apr F 52.10 - 52.10 -  
                   
  05/04 Markit US Composite PMI 06:45 Apr F  - - 51.70 -  
                   
  05/04 Factory Orders 07:00 Mar 0.60% -  -1.70% -  
                   
  05/04 Durable Goods Orders 07:00 Mar F - -    0.80% -  
                   
  05/04 Durables Ex Transportation 07:00 Mar F - -  -0.20% -  
                   
  05/05 Challenger Job Cuts YoY 04:30 Apr - -    31.70% -  
                   
  05/05 Initial Jobless Claims 05:30 30 Apr 263K  - 257K -  
                   
  05/05 Continuing Claims 05:30 23 Apr - - 2130K -  
                   
  05/05 Bloomberg Consumer Comfort 06:45 1 May - - 43.40 -  
                   
  05/06 Change in Nonfarm Payrolls 05:30 Apr 203K  - 215K -  
                   
  05/06 Unemployment Rate 05:30 Apr   5.00% -   5.00% -  
                   
  05/06 Average Hourly Earnings MoM 05:30 Apr   0.30% -    0.30% -  
                   
  05/06 Average Hourly Earnings YoY 05:30 Apr   2.40% -    2.30% -  
                   
  05/06 Labor Force Participation Rate 05:30 Apr - -    63.00% -  
                   
  05/06 Underemployment Rate 05:30 Apr - -    9.80% -  
                   
 
 
 
 
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