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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-04 (-03.5)  
 
  FN 3.5% Coupon   99-0.5 (-01)  
 
  Support   3.026%  
 
  Resistance   2.719%  
 
 
 
 
Friday, May 11, 2018
 
 
Treasuries are relatively flat across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.965% after closing at 2.963% prior.

This week’s economic calendar wraps up with the release of the April Import Price Index, which rose 0.30% month-over-month following a downwardly revised 0.20% decrease prior. Import Prices are up 3.30% year-over-year, which remained unchanged from a downwardly revised 3.30% increase prior. Further, Export Prices rose above expectations at 0.60% versus an increase of 0.40% per consensus. Export Prices increased from 0.30% in March, which accelerated to 3.80% year-over-year versus 3.40% prior.

The preliminary reading of the University of Michigan Sentiment for May came in above expectations at 98.80 versus 98.30 per consensus, which remained unchanged from prior. The preliminary reading of the Michigan Sentiment 1 Year Inflation came in slightly higher at 2.80% versus 2.70% prior, while the 5-10 Year Inflation remained unchanged at 2.50% from prior.

The curve has bear-flattened with the UST 10-Year yield up 0.2 bp from prior closing.

Have A Nice Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/07 Consumer Credit 12:00 Mar $15.200b $11.622b $10.601b $13.639b  
                   
  05/08 NFIB Small Business Optimism 03:00 Apr 104.50 104.80 104.70 -  
                   
  05/08 JOLTS Job Openings 07:00 Mar 6100 6550 6052 6078  
                   
  05/09 MBA Mortgage Applications 04:00 4 May - -0.40% -2.50% -  
                   
  05/09 PPI Final Demand MoM 05:30 Apr 0.20% 0.10% 0.30% -  
                   
  05/09 PPI Final Demand YoY 05:30 Apr 2.80% 2.60% 3.00% -  
                   
  05/09 Wholesale Trade Sales MoM 07:00 Mar - 0.30% 1.00% 1.10%  
                   
  05/09 Wholesale Inventories MoM 07:00 Mar F 0.50% 0.30% 0.50% -  
                   
  05/10 CPI MoM 05:30 Apr 0.30% 0.20% -0.10% -  
                   
  05/10 Initial Jobless Claims 05:30 5 May 219k 211k 211k -  
                   
  05/10 Continuing Claims 05:30 28 Apr 1800k 1790k 1756k 1760k  
                   
  05/10 CPI YoY 05:30 Apr 2.50% 2.50% 2.40% -  
                   
  05/10 Bloomberg Consumer Comfort 06:45 6 May - 55.80 56.50 -  
                   
  05/10 Monthly Budget Statement 11:00 Apr $212.00b $214.30b -$208.70b -  
                   
  05/11 Import Price Index MoM 05:30 Apr 0.50% 0.30% 0.00% -0.20%  
                   
  05/11 Import Price Index YoY 05:30 Apr 3.90% 3.30% 3.60% 3.30%  
                   
  05/11 Export Price Index MoM 05:30 Apr 0.40% 0.60% 0.30% -  
                   
  05/11 Export Price Index YoY 05:30 Apr - 3.80% 3.40% -  
                   
  05/11 U. of Mich. Sentiment 07:00 May P 98.30 98.80 98.80 -  
                   
 
 
 
 
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