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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-13 (+17) 2.305%  
 
  FN 3.5% Coupon   103-14 (+10)  
 
  Support   2.430%  
 
  Resistance   2.200%  
 
 
 
 
Today's Blurb Thursday, June 04, 2015
 
 
       Initial Jobless Claims, for the week ended May 30th, fell -8K to 276K (consensus 278K) and the prior week was revised up from 282K to 284K. This is the thirteenth consecutive week of claims below 300K which is consistent with an improving labor market. The four-week average increased to 274,750 from 272,000 prior. Continuing Claims fell -30K to 2.196 Million (consensus 2207K) reaching the lowest level since November 11th, 2000. According to the final Q1 estimate Productivity fell at a -3.1% annual rate and Unit Labor Costs increased +6.7%. Treasuries are hovering just above yesterday’s 2:00 PM (PT) close level following the largely in-line data and the curve has bull flattened with 2s10s down -2.2 bps. Tomorrow we get Nonfarm Payrolls and consensus is for 225K new jobs, no gains in earnings and a flat Unemployment Rate at 5.4%.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/01 Personal Income 05:30 Apr 0.30% 0.40% 0.00% -  
                   
  06/01 Personal Spending 05:30 Apr 0.20% 0.00% 0.40% 0.50%  
                   
  06/01 PCE Deflator MoM 05:30 Apr 0.10% 0.00% 0.20% -  
                   
  06/01 PCE Deflator YoY 05:30 Apr 0.20% 0.10% 0.30% -  
                   
  06/03 MBA Mortgage Applications 04:00 May 29 - -7.60% -1.60% -  
                   
  06/03 ADP Employment Change 05:15 May 200K 201K 169K 165K  
                   
  06/03 Beige Book 11:00 - - - - -  
                   
  06/04 Initial Jobless Claims 05:30 May 30 278K 276K 282K 284K  
                   
  06/04 Continuing Claims 05:30 May 23 2207K 2196K 2222K 2226K  
                   
  06/05 Nonfarm Payrolls 05:30 May 225K - 223K -  
                   
  06/05 Unemployment Rate 05:30 May 5.40% - 5.40% -  
                   
  06/05 Labor Force Participation rate 05:30 May - - 62.80% -  
                   
 
 
 
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