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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-04.5 (+13.5) 2.336%  
 
  FN 3.5% Coupon   102-30.5 (+06)  
 
  Support   2.510%  
 
  Resistance   2.360%  
 
 
 
 
Today's Blurb Monday, June 15, 2015
 
 
        This week’s data will be eclipsed by Wednesday’s FOMC event and Janet Yellen’s following press conference. While the FOMC is not expected to alter interest rates on Wednesday, we watch for any changes to their quarterly economic forecasts for hints as to when they anticipate a rate hike will be feasible. Today we get data on Manufacturing and Industrial Production, tomorrow we get Housing Starts and Permits data, followed by Inflation data on Thursday. Empire Manufacturing for June posted significantly lower than expectations, contracting to -1.98 vs. 3.09 prior (consensus 6.0). Industrial Production for May declined -0.2% (consensus +0.2%) with April revised down from -0.3% to -0.5%. Treasuries are opening higher from Friday’s 2:00 PM (PT) close following this morning’s data dump, and the 10-Year note is currently hovering near resistance levels. The curve has bull flattened with 2s10s down -2.3 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/15 Empire Manufacturing 05:30 June 6.00 -1.98 3.09 -  
                   
  06/15 Industrial Production MoM 06:15 May 0.20% -0.20% -0.30% -0.50%  
                   
  06/16 Housing Starts 05:30 May 1091K - 1135K -  
                   
  06/16 Housing Starts MoM 05:30 May -3.90% - 20.20% -  
                   
  06/16 Building Permits 05:30 May 1100K - 1143K 1140K  
                   
  06/16 Building Permits MoM 05:30 May -3.50% - 10.10% 9.80%  
                   
  06/17 MBA Mortgage Applications 04:00 Jun 12 - - 8.40% -  
                   
  06/17 FOMC Rate Decision 11:00 June 17 0.25% - 0.25% -  
                   
  06/18 CPI MoM 05:30 May 0.50% - 0.10% -  
                   
  06/18 CPI YoY 05:30 May 0.10% - -0.20% -  
                   
  06/18 Initial Jobless Claims 05:30 Jun 13 277K - 279K -  
                   
  06/18 Continuing Claims 05:30 June 6 2200K - 2265K -  
                   
  06/18 Leading Index 07:00 May 0.40% - 0.70% -  
                   
  06/19 No Data - - - - - -  
                   
 
 
 
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