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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-17 (+07.5) 2.178%  
 
  FN 3.5% Coupon   103-28 (+03.5)  
 
  Support   2.480%  
 
  Resistance   2.190%  
 
 
 
 
Today's Blurb Monday, August 03, 2015
 
 
      We have a fairly heavy week for economic data ahead starting out with today’s Income/Spending and Manufacturing data followed by ISM and Factory Orders tomorrow, Trade Balance and PMI data on Wednesday, with the highlight on Friday’s Nonfarm Payrolls and Unemployment Report. Market consensus for July Nonfarm Payrolls is for 225 added jobs vs. 223K prior with no change in the Unemployment Rate. June’s Personal Income and Spending posted largely in line with market expectations with Income up +0.1% to +0.4% (consensus +0.3%) vs. +0.4% prior and Spending advanced +0.2% (consensus +0.2%) vs. +0.7% prior. ISM Manufacturing came in below expectations at 52.7 (consensus 53.5) vs. 53.5 prior. Treasuries are up this morning following the disappointing Manufacturing data and the curve has bull flattened with 2s10s down -2 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/03 Personal Income 05:30 June 0.30% 0.40% 0.50% 0.40%  
                   
  08/03 Personal Spending 05:30 June 0.20% 0.20% 0.90% 0.70%  
                   
  08/03 PCE Core MoM 05:30 June 0.10% 0.10% 0.10% -  
                   
  08/03 PCE Core  YoY 05:30 June 1.20% 1.30% 1.20% 1.30%  
                   
  08/03 Markit US Manufacturing PMI 06:45 July F 53.80 53.80 53.80 -  
                   
  08/03 Construction Spending MoM 07:00 June 0.60% 0.10% 0.80% 1.80%  
                   
  08/03 ISM Manufacturing 07:00 July 53.50 52.70 53.50 -  
                   
  08/04 ISM New York 06:45 July - - 63.10 -  
                   
  08/04 Factory Orders 07:00 June 1.80% - -1.00% -  
                   
  08/05 MBA Mortgage Applications 04:00 July 31 - - 0.80% -  
                   
  08/05 ADP Employment Change 05:15 July 215K - 237K -  
                   
  08/05 Trade Balance 05:30 June -$ 43.00 Bn - -$ 41.87 Bn -  
                   
  08/05 Markit US Composite PMI 06:45 July F - - 55.20 -  
                   
  08/05 Markit US Services PMI 06:45 July F 55.20 - 55.20 -  
                   
  08/06 Initial Jobless Claims 05:30 Aug 1 272K - 267K -  
                   
  08/06 Continuing Claims 05:30 July 25 2250K - 2262K -  
                   
  08/07 Change in Nonfarm Payrolls 05:30 July 225K - 223K -  
                   
  08/07 Unemployment Rate 05:30 July 5.30% - 5.30% -  
                   
  08/07 Average Hourly Earnings MoM 05:30 July 0.20% - 0.00% -  
                   
  08/07 Average Hourly Earnings YoY 05:30 July 2.30% - 2.00% -  
                   
  08/07 Labor Force Participation Rate 05:30 July - - 62.60% -  
                   
 
 
 
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