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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-02.5 (+03.5) 2.106%  
 
  FN 3.5% Coupon   104-17 (+00.5)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Monday, May 04, 2015
 
 
       We have a wide range of data this week with the highlight on Friday’s Nonfarm Payrolls Report. Friday’s Nonfarm Payrolls report may affect rate-hike expectations, and market consensus is for a jump to 225K vs. 126K prior. Today we get Factory Orders which have proven to be one of the more disappointing indicators, down in all but one of the past seven reports, however despite recent weakness expectations are for a +2.0% gain following February’s minor +0.2% gain. Factory Orders surpassed consensus posting a +2.1% jump in March. Treasuries are hovering around Friday’s 2:00 PM (PT) close levels and the curve has bull flattened with 2s10s down -1.2 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/04 Factory Orders 07:00 Mar 2.00% 2.10% 0.20% -0.10%  
                   
  05/05 Trade Balance 05:30 Mar -$41.50 Bn - -$35.40 Bn -  
                   
  05/05 Markit US Composite PMI 06:45 Apr F - - 57.40 -  
                   
  05/05 Markit US Services PMI 06:45 Apr F 57.80 - 57.80 -  
                   
  05/06 MBA Mortgage Applications 04:00 May 1 - - -2.30% -  
                   
  05/06 ADP Employment Change 05:15 Apr 200K - 189K -  
                   
  05/07 Initial Jobless Claims 05:30 May 2 278K - 262K -  
                   
  05/07 Continuing Claims 05:30 Apr 25 2270K - 2253K -  
                   
  05/08 Nonfarm Payrolls 05:30 Apr 225K - 126K -  
                   
  05/08 Unemployment Rate 05:30 Apr 5.40% - 5.50% -  
                   
  05/08 Labor Force Participation Rate 05:30 Apr - - 62.70% -  
                   
  05/08 Wholesale Inventories MoM 07:00 Mar 0.30% - 0.30% -  
                   
  05/08 Wholesale Trade Sales MoM 07:00 Mar 0.50% - -0.20% -  
                   
 
 
 
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