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Market Commentary


 
Today's Coupons
 
  10-Year Notes   101-29 (+01)  
 
  FN 3.5% Coupon   103-03 (+01)  
 
  Support   2.225%  
 
  Resistance   2.103%  
 
 
 
 
Friday, June 16, 2017
 
 
Treasuries are slightly higher across the curve this morning from yesterday's close. The UST 10-Year yield is currently at 2.160% after closing at 2.165% prior.

This morning we received the Housing Starts print for May, which came in below expectations at 1092k versus 1220k per consensus. Housing Starts fell 5.50% in May MoM from a downwardly revised drop of 2.80% in April. The May Building Permits print also came in below expectations at 1168k versus 1249k per consensus. Building Permits MoM dropped 4.90% in May from an unrevised 2.50% fall in April.

Later today at 9:45 AM (PT), Dallas Fed President Kaplan will speak to the Park Cities Rotary Club in Dallas in a Q&A setting.

The curve has bull-steepened with the UST 10-Year down 0.5 bp from prior closing.

Have A Lovely Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/12 Monthly Budget Statement 11:00 May -$87.00b -$88.40b -$52.50b -  
                   
  06/13 NFIB Small Business Optimism 03:00 May 104.50 104.50 104.50 -  
                   
  06/13 PPI Final Demand MoM 05:30 May 0.00% 0.00% 0.50% -  
                   
  06/13 PPI Final Demand YoY 05:30 May 2.30% 2.40% 2.50% -  
                   
  06/14 MBA Mortgage Applications 04:00 9 Jun - 2.80% 7.10% -  
                   
  06/14 CPI MoM 05:30 May 0.00% -0.10% 0.20% -  
                   
  06/14 CPI YoY 05:30 May 2.00% 1.90% 2.20% -  
                   
  06/14 Retail Sales Advance MoM 05:30 May 0.00% -0.30% 0.40% -  
                   
  06/14 Business Inventories 07:00 Apr -0.20% -0.20% 0.20% -  
                   
  06/14 FOMC Rate Decision (Upper Bound) 11:00 14 Jun 1.25% 1.25% 1.00% -  
                   
  06/14 FOMC Rate Decision (Lower Bound) 11:00 14 Jun 1.00% 1.00% 0.75% -  
                   
  06/15 Import Price Index MoM 05:30 May -0.10% -0.30% 0.50% 0.20%  
                   
  06/15 Empire Manufacturing 05:30 Jun 5.00 19.80 -1.00 -  
                   
  06/15 Import Price Index YoY 05:30 May 2.90% 2.10% 4.10% 3.60%  
                   
  06/15 Initial Jobless Claims 05:30 10 Jun 241k 237k 245k -  
                   
  06/15 Continuing Claims 05:30 3 Jun 1920k 1935k 1917k 1929k  
                   
  06/15 Philadelphia Fed Business Outlook 05:30 Jun 24.90 27.60 38.80 -  
                   
  06/15 Industrial Production MoM 06:15 May 0.20% 0.00% 1.00% 1.10%  
                   
  06/15 Capacity Utilization 06:15 May 76.80% 76.60% 76.70% -  
                   
  06/15 Bloomberg Consumer Comfort 06:45 11 Jun - 50.00 49.90 -  
                   
  06/15 NAHB Housing Market Index 07:00 Jun 70.00 67.00 70.00 69.00  
                   
  06/15 Total Net TIC Flows 13:00 Apr - $65.80b -$0.70b $9.30b  
                   
  06/16 Housing Starts 05:30 May 1220k 1092k 1172k 1156k  
                   
  06/16 Housing Starts MoM 05:30 May 4.10% -5.50% -2.60% -2.80%  
                   
  06/16 Building Permits 05:30 May 1249k 1168k 1229k 1228k  
                   
  06/16 Building Permits MoM 05:30 May 1.70% -4.90% -2.50% -2.50%  
                   
  06/16 Labor Market Conditions Index Change 07:00 May 3.00 2.30 3.50 3.70  
                   
  06/16 U. of Mich. Sentiment 07:00 Jun P 97.00 94.50 97.10 -  
                   
 
 
 
 
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