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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-07 (-05)  
 
  FN 3.5% Coupon   98-28 (-03.5)  
 
  Support   3.111%  
 
  Resistance   2.759%  
 
 
 
 
Monday, June 11, 2018
 
 
Treasuries are lower across the curve this morning from Friday’s close. The UST 10-Year yield is currently at 2.964% after closing at 2.947% prior.

The anticipated meeting between President Trump and North Korean leader Kim Jong Un will begin at 9:00 AM local time in Singapore on Tuesday. Secretary of State Mike Pompeo announced that the U.S. plans to keep sanctions in place until North Korea agrees to denuclearize, sending a firm message to Pyongyang ahead of the scheduled meeting. Aside from this historic summit, investors will also be focused on central banks this week, where the Feds will announce their latest rate hike decision at the conclusion of its two-day meeting on Wednesday, while ECB announces their latest policy decision on Thursday.

There are no reports on today’s economic calendar, and will resume tomorrow with the May NFIB Small Business Optimism and the May CPI print which would give the Feds an updated price reading ahead of its meeting. On Wednesday we will receive the May PPI Final Demand and PPI excluding Food and Energy, and on Thursday we will receive the U.S. Retail Sales for May along with the Import Price Index. Then on Friday, we will have the June Empire Manufacturing print accompanied by the May Industrial Production and Capacity Utilization reports. Later today at 10:00 AM (PT), U.S. will sell $48 Billion 3-Month Bills and $22 Billion 10-Year Notes Reopening.

The curve has bear-flattened with the UST 10-Year yield up 1.7 bps from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/11 No Data - - - - - -  
                   
  06/12 NFIB Small Business Optimism 03:00 May 105.00 - 104.80 -  
                   
  06/12 CPI MoM 05:30 May 0.20% - 0.20% -  
                   
  06/12 CPI YoY 05:30 May 2.70% - 2.50% -  
                   
  06/12 Monthly Budget Statement 11:00 May -$139.50b - $214.30b -  
                   
  06/13 MBA Mortgage Applications 04:00 8 Jun - - 4.10% -  
                   
  06/13 PPI Final Demand MoM 05:30 May 0.30% - 0.10% -  
                   
  06/13 PPI Final Demand YoY 05:30 May 2.80% - 2.60% -  
                   
  06/13 FOMC Rate Decision (Upper Bound) 11:00 13 Jun 2.00% - 1.75% -  
                   
  06/13 FOMC Rate Decision (Lower Bound) 11:00 13 Jun 1.75% - 1.50% -  
                   
  06/14 Initial Jobless Claims 05:30 9 Jun 224k - 222k -  
                   
  06/14 Retail Sales Advance MoM 05:30 May 0.40% - 0.30% 0.20%  
                   
  06/14 Continuing Claims 05:30 2 Jun 1734k - 1741k -  
                   
  06/14 Import Price Index MoM 05:30 May 0.50% - 0.30% -  
                   
  06/14 Import Price Index YoY 05:30 May 3.90% - 3.30% -  
                   
  06/14 Export Price Index MoM 05:30 May 0.30% - 0.60% -  
                   
  06/14 Export Price Index YoY 05:30 May - - 3.80% -  
                   
  06/14 Bloomberg Consumer Comfort 06:45 10 Jun - - 54.80 -  
                   
  06/14 Business Inventories 07:00 Apr 0.30% - 0.00% -  
                   
  06/15 Empire Manufacturing 05:30 Jun 19.00 - 20.10 -  
                   
  06/15 Industrial Production MoM 06:15 May 0.20% - 0.70% -  
                   
  06/15 Capacity Utilization 06:15 May 78.10% - 78.00% -  
                   
  06/15 U. of Mich. Sentiment 07:00 Jun P 98.50 - 98.00 -  
                   
 
 
 
 
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