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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-27.5 (+14.5) 2.130%  
 
  FN 3.5% Coupon   104-22.5 (+11)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Friday, May 08, 2015
 
 
      The U.S. added 223K jobs last month, coming in just under the market consensus of 228K. March really felt the pain, revised down to 85K vs. 126K prior to reach the lowest level since June 2012. March’s downward revision may spur doubts as to the Federal Reserve’s ability to raise rates later this year. The Unemployment Rate ticked down to 5.4% vs. 5.5% prior, Average Hourly Earnings (MoM) rose less than forecast at +0.1% (consensus +0.2%) with April revised down from +0.3% to +0.2%, and the Labor Force Participation Rate rose to 62.8% vs. 62.7% prior. Treasuries rallied following this morning’s data release with the 10-Year up roughly 20 ticks and the curve has bull flattened with 2s10s down -1.2 bps.
 
Have a Great Weekend!
 
 
   
 
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 -$41.70 Bn -$51.40 Bn -$35.40 Bn -$35.90 Bn  
                   
  05/05 Markit US Composite PMI 06:45 Apr F - 57.00 57.40 -  
                   
  05/05 Markit US Services PMI 06:45 Apr F 57.80 57.40 57.80 -  
                   
  05/06 MBA Mortgage Applications 04:00 May 1 - -4.60% -2.30% -  
                   
  05/06 ADP Employment Change 05:15 Apr 200K 169K 189K 175K  
                   
  05/07 Initial Jobless Claims 05:30 May 2 278K 265K 262K -  
                   
  05/07 Continuing Claims 05:30 Apr 25 2270K 2228K 2253K 2256K  
                   
  05/08 Nonfarm Payrolls 05:30 Apr 228K 223K 126K 85K  
                   
  05/08 Unemployment Rate 05:30 Apr 5.40% 5.40% 5.50% -  
                   
  05/08 Labor Force Participation Rate 05:30 Apr - 62.80% 62.70% -  
                   
  05/08 Wholesale Inventories MoM 07:00 Mar 0.30% 0.10% 0.30% 0.20%  
                   
  05/08 Wholesale Trade Sales MoM 07:00 Mar 0.50% -0.20% -0.20% -0.60%  
                   
 
 
 
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