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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-31 (-01.5)  
 
  FN 3.5% Coupon   99-12 (-02)  
 
  Support   3.111%  
 
  Resistance   2.813%  
 
 
 
 
Monday, August 13, 2018
 
 
Treasuries are marginally lower the curve this morning from Friday's close. The UST 10-Year yield is currently at 2.880% after closing at 2.874% prior.

Treasuries climbed higher overnight and into the open before paring some of its gains as geopolitical concerns on the ongoing economic crisis in Turkey resumed. Investors continue to weigh in the possible effects that Turkey's economic situation could have on global markets. Fear of emerging-markets contagion has U.S. Stocks mixed while the dollar advanced. There are no economic reports available today, so the markets will likely continue to focus on geopolitical headlines.

This week's economic calendar will begin with Tuesday's July NFIB Small Business Optimism and Import and Export Price Index for July. Wednesday will consist of the July Retail Sales, Industrial Production and Capacity Utilization, as well as the August Empire Manufacturing print. On Thursday, we will receive the Housing Starts and Building Permits for July. Then on Friday we will have the Leading Index for July as well as the University of Michigan Sentiment for August. The 2Q Mortgage Delinquencies and MBA Mortgage Foreclosures are also scheduled to be released throughout the week.

The curve has bear-flattened with the UST 10-Year yield up 0.6 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/13 No Data - - - - - -  
                   
  08/14 NFIB Small Business Optimism 03:00 Jul 106.80 - 107.20 -  
                   
  08/14 Import Price Index MoM 05:30 Jul 0.00% - -0.40% -  
                   
  08/14 Import Price Index YoY 05:30 Jul 4.50% - 4.30% -  
                   
  08/14 Export Price Index MoM 05:30 Jul 0.20% - 0.30% -  
                   
  08/14 Export Price Index YoY 05:30 Jul - - 5.30% -  
                   
  08/15 MBA Mortgage Applications 04:00 10 Aug - - -3.00% -  
                   
  08/15 Nonfarm Productivity 05:30 2Q P 2.40% - 0.40% -  
                   
  08/15 Empire Manufacturing 05:30 Aug 20.00 - 22.60 -  
                   
  08/15 Retail Sales Advance MoM 05:30 Jul 0.10% - 0.50% -  
                   
  08/15 Unit Labor Costs 05:30 2Q P 0.20% - 2.90% -  
                   
  08/15 Industrial Production MoM 06:15 Jul 0.30% - 0.60% -  
                   
  08/15 Capacity Utilization 06:15 Jul 78.20% - 78.00% -  
                   
  08/15 Business Inventories 07:00 Jun 0.10% - 0.40% -  
                   
  08/15 NAHB Housing Market Index 07:00 Aug 67.00 - 68.00 -  
                   
  08/15 Total Net TIC Flows 13:00 Jun - - $69.90b -  
                   
  08/15 Net Long-term TIC Flows 13:00 Jun - - $45.60b -  
                   
  08/16 Philadelphia Fed Business Outlook 05:30 Aug 22.00 - 25.70 -  
                   
  08/16 Initial Jobless Claims 05:30 11 Aug 215k - 213k -  
                   
  08/16 Continuing Claims 05:30 4 Aug 1741k - 1755k -  
                   
  08/16 Housing Starts 05:30 Jul 1260k - 1173k -  
                   
  08/16 Housing Starts MoM 05:30 Jul 7.40% - -12.30% -  
                   
  08/16 Building Permits 05:30 Jul 1310k - 1273k 1292k  
                   
  08/16 Building Permits MoM 05:30 Jul 1.40% - -2.20% -0.70%  
                   
  08/16 Bloomberg Consumer Comfort 06:45 12 Aug - - 59.30 -  
                   
  08/17 Leading Index 07:00 Jul 0.40% - 0.50% -  
                   
  08/17 U. of Mich. Sentiment 07:00 Aug P 98.00 - 97.90 -  
                   
 
 
 
 
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