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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-26.5 (-04) 1.756%  
 
  FN 3.5% Coupon   105-00 (01)  
 
  Support   2.050%  
 
  Resistance   1.700%  
 
 
 
 
Today's Blurb Friday, May 6, 2016
 
 
          Nonfarm Payrolls disappointed consensus last month, adding a meager 160K jobs (consensus 200K). March Payrolls was revised down from 215K to 208K. The Unemployment Rate held at 5.00% (consensus 4.90%), average hourly earnings rose to 2.50% annually (consensus 2.40%), and the Labor Force Participation Rate fell to 62.80% (consensus 63.00%) vs. 63.00% prior. The overall weakness in this morning's report was countered, in part, by a bright spot in wage appreciation. Treasuries got a boost this morning from the disappointing data, and the curve has steepened with 2s10s up 1.4 bps.
Have A Wonderful Weekend!
 
 
   
 
   
 
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 - 57.00 50.40 -  
                   
  05/04 MBA Mortgage Applications 04:00 29 Apr -  -3.40%  -4.10% -  
                   
  05/04 ADP Employment Change 05:15 Apr 195K 156K 200K 194K  
                   
  05/04 Trade Balance 05:30 Mar -$41.20 B -$40.40 B -$47.10 B -$47.00 B  
                   
  05/04 Nonfarm Productivity 05:30 1Q P -1.30% -1.00%    -2.20% -1.70%  
                   
  05/04 Markit US Services PMI 06:45 Apr F 52.10 52.80 52.10 -  
                   
  05/04 Markit US Composite PMI 06:45 Apr F  - 52.40 51.70 -  
                   
  05/04 Factory Orders 07:00 Mar   0.60% 1.10%  -1.70% -1.90%  
                   
  05/04 Durable Goods Orders 07:00 Mar F   0.80% 0.80%    0.80% -  
                   
  05/04 Durables Ex Transportation 07:00 Mar F -0.10% -0.20%  -0.20% -  
                   
  05/05 Challenger Job Cuts YoY 04:30 Apr -   5.80%    31.70% -  
                   
  05/05 Initial Jobless Claims 05:30 30 Apr 260K  274K 257K -  
                   
  05/05 Continuing Claims 05:30 23 Apr 2128K 2121K 2130K 2129K  
                   
  05/05 Bloomberg Consumer Comfort 06:45 1 May - 42.00 43.40 -  
                   
  05/06 Change in Nonfarm Payrolls 05:30 Apr 200K 160K 215K 208K  
                   
  05/06 Unemployment Rate 05:30 Apr   4.90%   5.00%   5.00% -  
                   
  05/06 Average Hourly Earnings MoM 05:30 Apr   0.30%   0.30%    0.30%    0.20%  
                   
  05/06 Average Hourly Earnings YoY 05:30 Apr   2.40%  2.50%    2.30% -  
                   
  05/06 Labor Force Participation Rate 05:30 Apr  63.00%  62.80%    63.00% -  
                   
  05/06 Underemployment Rate 05:30 Apr -  9.70%    9.80% -  
                   
 
 
 
 
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