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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-26 (-04.5)  
 
  FN 3.5% Coupon   102-26.5 (-01.5)  
 
  Support   2.297%  
 
  Resistance   2.120%  
 
 
 
 
Friday, June 30, 2017
 
 
Treasuries are little changed across the curve this morning from yesterday's close. The UST 10-Year yield is currently at 2.277% after closing at 2.267% prior.

This morning we received the Personal Income print for May, which increased above expectations at 0.40% versus 0.30% per consensus. Personal Spending for May rose just 0.10% as expected after increasing 0.40% in April. Real Personal Spending rose 0.10% in May after a 0.20% gain in April. PCE Deflator MoM came in line with expectations, dropping 0.10% in May after a 0.20% increase in April; PCE Deflator YoY rose 1.40% versus a 1.70% gain prior. Excluding food and energy, PCE Core MoM rose 0.10% in May as expected after a downwardly revised 0.10% gain in April, and PCE Core YoY rose 1.40% as expected after a 1.50% gain prior.

The curve has bear-steepened with the UST 10-Year up 1 bp from prior closing.

Have A Wonderful Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/26 Durable Goods Orders 05:30 May P -0.60% -1.10% -0.80% -0.90%  
                   
  06/26 Chicago Fed Nat Activity Index 05:30 May 0.20 -0.26 0.49 0.57  
                   
  06/26 Durables Ex Transportation 05:30 May P 0.40% 0.10% -0.50% -  
                   
  06/26 Dallas Fed Manf. Activity 07:30 Jun 16.00 15.00 17.20 -  
                   
  06/27 S&P CoreLogic CS 20-City MoM SA 06:00 Apr 0.50% 0.28% 0.87% 0.53%  
                   
  06/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Apr 5.90% 5.67% 5.89% 5.88%  
                   
  06/27 Richmond Fed Manufact. Index 07:00 Jun 5.00 7.00 1.00 -  
                   
  06/28 MBA Mortgage Applications 04:00 23 Jun - -6.20% 0.60% -  
                   
  06/28 Wholesale Inventories MoM 05:30 May P 0.20% 0.30% -0.50% -0.40%  
                   
  06/28 Pending Home Sales MoM 07:00 May 1.00% -0.80% -1.30% -1.70%  
                   
  06/29 GDP Annualized QoQ 05:30 1Q T 1.20% 1.40% 1.20% -  
                   
  06/29 Personal Consumption 05:30 1Q T 0.60% 1.10% 0.60% -  
                   
  06/29 GDP Price Index 05:30 1Q T 2.20% 1.90% 2.20% -  
                   
  06/29 Core PCE QoQ 05:30 1Q T 2.10% 2.00% 2.10% -  
                   
  06/29 Initial Jobless Claims 05:30 24 Jun 240k 244k 241k 242k  
                   
  06/29 Continuing Claims 05:30 17 Jun 1935k 1948k 1944k 1942k  
                   
  06/29 Bloomberg Consumer Comfort 06:45 25 Jun - 48.60 49.40 -  
                   
  06/30 Personal Income 05:30 May 0.30% 0.40% 0.40% 0.30%  
                   
  06/30 Personal Spending 05:30 May 0.10% 0.10% 0.40% -  
                   
  06/30 PCE Deflator MoM 05:30 May -0.10% -0.10% 0.20% -  
                   
  06/30 PCE Deflator YoY 05:30 May 1.50% 1.40% 1.70% -  
                   
  06/30 PCE Core MoM 05:30 May 0.10% 0.10% 0.20% 0.10%  
                   
  06/30 PCE Core YoY 05:30 May 1.40% 1.40% 1.50% -  
                   
  06/30 U. of Mich. Sentiment 07:00 Jun F 94.50 95.10 94.50 -  
                   
 
 
 
 
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