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Market Commentary

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Market Commentary


Monday
June 16, 2014
10-YEAR NOTES   99-04 (+01) 2.599%
FN 3.5% COUPON   102-00 (-12)
SUPPORT   2.615%
RESISTANCE   2.470%
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Empire Manufacturing reached a four year high, for the month of June, coming in at 19.28 vs. 19.01 prior (consensus 15). Growth in new orders was exceptionally strong, at another four year high of 18.36. Today's report offers an early signal of strength for June's manufacturing conditions. Industrial production (MoM) posted gains in May of +0.6% vs. -0.3% prior (consensus +0.5%). The NAHB Housing Market Index is expected to rise to 47 after falling -1 point in May to 45. Treasuries are seeing a small lift today as civil tensions in Iraq are increasing the demand for safe haven assets.

This Week's Events:

DATE EVENTS TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
06/16 Empire Manufacturing 05:30 June 15.00 19.28 19.01 -
06/16 Industrial production MoM 06:15 May 0.5% 0.6% -0.6% -0.3%
06/16 NAHB Housing Market Index 07:00 June 47 49 45 -
06/17 CPI MoM 05:30 May 0.2% - 0.3% -
06/17 CPI YoY 05:30 May 2.0% - 2.0% -
06/17 Housing Starts 05:30 May 1029K - 1072K -
06/17 Housing Starts MoM 05:30 May -4.2% - 13.2% -
06/17 Building Permits 05:30 May 1050K - 1080K 1059K
06/17 Building Permits MoM 05:30 May -0.9% - 8.0% 5.9%
06/18 MBA Mortgage Applications 04:00 June 13 - - 10.3% -
06/18 Fed QE 3 Pace 11:00 June $35 Billion - $45 Billion -
06/19 Initial Jobless Claims 05:30 June 14 312K - 317K -
06/19 Continuing Claims 05:30 June 7 2600K - 2614K -
06/19 Philadelphia Fed 07:00 June 13.9 - 15.4 -
06/19 Leading Index 07:00 May 0.6% - 0.4% -
06/20 No Data - - - - - -

 

 

 
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