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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-04.5 (+14) 2.223%  
 
  FN 3.5% Coupon   103-15.5 (+06.5)  
 
  Support   2.480%  
 
  Resistance   2.190%  
 
 
 
 
Today's Blurb Monday, July 27, 2015
 
 
       We have a busy week this week for economic data with today’s Durable Goods release, followed by Tuesday’s Housing data, Wednesday’s FOMC announcement and Friday gives us a first look at second quarter GDP. GDP for the second quarter is expected to jump to +2.5% vs. -0.2% in Q1. Durable Goods Orders were stronger than expected in June, up +3.4% (consensus +3.2%) with May revised down from -1.8% to -2.1%. Excluding Transportation, Durable Goods rose +0.8% (consensus +0.5%) with May also revised down from +0.5% to -0.1%. Core capital goods orders, which also exclude aircrafts, rose +0.9%. Treasuries are advancing this morning, despite the stronger than expected Durable Goods data, on speculation that the Fed will refrain from signaling a hike in September when they meet this week. The curve has bull flattened with 2s10s down -2.3 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/27 Durable Goods Orders 05:30 June 3.20% 3.40% -1.80% -2.10%  
                   
  07/28 S&P/Case-Shiller US HPI  MoM 06:00 May - - -0.02% -  
                   
  07/28 S&P/Case-Shiller US HPI  YoY 06:00 May 4.50% - 4.23% -  
                   
  07/28 Markit US Composite PMI 06:45 July P - - 54.60 -  
                   
  07/28 Markit US Services PMI 06:45 July P 55.00 - 54.80 -  
                   
  07/29 MBA Mortgage Applications 04:00 July 24 - - 0.10% -  
                   
  07/29 Pending Home Sales MoM 07:00 June 1.00% - 0.90% -  
                   
  07/29 Pending Home Sales  YoY 07:00 June 11.60% - 8.30% -  
                   
  07/29 FOMC Rate Decision (Upper Limit) 11:00 July 29 0.25% - 0.25% -  
                   
  07/30 GDP Annualized QoQ 05:30 2Q A 2.50% - -0.20% -  
                   
  07/30 Initial Jobless Claims 05:30 July 25 270K - 255K -  
                   
  07/30 Continuing Claims 05:30 July 18 2205K - 2207K -  
                   
  07/31 ISM Milwaukee 06:00 July 50.00 - 46.55 -  
                   
 
 
 
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