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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-05 (+06.5) 2.107%  
 
  FN 3.5% Coupon   104-13.5 (+01.5)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Friday, May 29, 2015
 
 
        Real Gross Domestic Product (GDP) contracted -0.7% in the first quarter of 2015, according to the second estimate. The advanced estimate had GDP barely above zero at +0.2%. The slowdown seen in Q1 growth follows a +2.2% advance in Q4 2014. The dip in GDP primarily reflects negative contributions from Exports (-7.6%), Nonresidential Fixed Investment (-2.8%), and Imports (+5.6%). The trade gap pulled the headline down as the strong dollar is causing Exports to slump by making domestic goods and services more expensive to foreign investors and Imports to rise with the purchasing power of the dollar. Personal Consumption posted just under expectations at +1.8% vs. +1.9% prior (consensus +2.0%).Treasuries are higher this morning, following the data release, with the 10-Year note up nearly half a point. 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  
  05/25 No Data - - - - - -  
                   
  05/26 Durable Goods Orders 05:30 Apr -0.50% -0.50% 4.00% 5.10%  
                   
  05/26 FHFA House Price Index MoM 06:00 Mar 0.70% 0.30% 0.70% 0.60%  
                   
  05/26 S&P / Case-Shiller US HPI MoM 06:00 Mar 0.50% 0.12% 0.42% 0.35%  
                   
  05/26 S&P / Case-Shiller US HPI YoY 06:00 Mar - 4.14% 4.22% 4.16%  
                   
  05/26 New Home Sales 07:00 Apr 508K 517K 481K 484K  
                   
  05/26 New Home Sales MoM 07:00 Apr 5.60% 6.80% -11.40% -10.00%  
                   
  05/27 MBA Mortgage Applications 04:00 May 22 - -1.60% -1.50% -  
                   
  05/28 Initial Jobless Claims 05:30 May 23 270K 282K 274K 275K  
                   
  05/28 Continuing Claims 05:30 May 16 2200K 2222K 2211K -  
                   
  05/28 Pending Home Sales MoM 07:00 Apr 0.90% 3.40% 1.10% 1.20%  
                   
  05/28 Pending Home Sales YoY 07:00 Apr 10.90% 13.40% 13.40% 13.50%  
                   
  05/29 GDP Annualized QoQ 05:30 1Q S -0.90% -0.70% 0.20% -  
                   
  05/29 Personal Consumption 05:30 1Q S 2.00% 1.80% 1.90% -  
                   
 
 
 
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