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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-11 (-06)  
 
  FN 3.5% Coupon   103-07.5 (-01.5)  
 
  Support   2.287%  
 
  Resistance   2.184%  
 
 
 
 
Monday, August 14, 2017
 
 
Treasuries are moderately lower across the curve this morning from Friday's close.? The UST 10-Year yield is currently at 2.217% after closing at 2.190% prior.

This week's economic calendar begins without any data releases for today, but it will include several key economic reports throughout the week. Tomorrow we will receive the July Retail Sales report, which is expected to show an increase in consumer spending. Core Retail Sales have been weaker than expected the last few months, but is expected to make a jump in July. On Wednesday, we will receive the Housing Starts for July, which is expected to rise from June. The FOMC Meeting Minutes will also be available tomorrow, which is expected to show that the balance sheet normalization will be announced at the Fed's next meeting in September.

Economic reports will be slower on Thursday and Friday; Thursday we will have the Philadelphia Fed Business Outlook and the Industrial Production MoM and Friday we will have the University of Michigan Sentiment. However, Dallas Fed President Kaplan will speak both Thursday and Friday with the Lubbock Chamber of Commerce and the Dallas County Community College District Conference day.

The curve has bear-steepened with the UST 10-Year up 2.7 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/14 No Data - - - - - -  
                   
  08/15 Import Price Index MoM 05:30 Jul 0.10% - -0.20% -  
                   
  08/15 Import Price Index YoY 05:30 Jul 1.30% - 1.50% -  
                   
  08/15 Export Price Index MoM 05:30 Jul 0.20% - -0.20% -  
                   
  08/15 Export Price Index YoY 05:30 Jul - - 0.60% -  
                   
  08/15 Empire Manufacturing 05:30 Aug 10.00 - 9.80 -  
                   
  08/15 Retail Sales Advance MoM 05:30 Jul 0.40% - -0.20% -  
                   
  08/15 NAHB Housing Market Index 07:00 Aug 64.00 - 64.00 -  
                   
  08/15 Business Inventories 07:00 Jun 0.40% - 0.30% -  
                   
  08/15 Total Net TIC Flows 13:00 Jun - - $57.30b -  
                   
  08/15 Net Long-term TIC Flows 13:00 Jun - - $91.90b -  
                   
  08/16 MBA Mortgage Applications 04:00 11 Aug - - 3.00% -  
                   
  08/16 Housing Starts 05:30 Jul 1220k - 1215k -  
                   
  08/16 Housing Starts MoM 05:30 Jul 0.40% - 8.30% -  
                   
  08/16 Building Permits 05:30 Jul 1249k - 1254k 1275k  
                   
  08/16 Building Permits MoM 05:30 Jul -2.00% - 7.40% 9.20%  
                   
  08/16 FOMC Meeting Minutes 11:00 26 Jul - - - -  
                   
  08/17 Initial Jobless Claims 05:30 12 Aug 240k - 244k -  
                   
  08/17 Continuing Claims 05:30 5 Aug - - 1951k -  
                   
  08/17 Philadelphia Fed Business Outlook 05:30 Aug 19.00 - 19.50 -  
                   
  08/17 Industrial Production MoM 06:15 Jul 0.30% - 0.40% -  
                   
  08/17 Capacity Utilization 06:15 Jul 76.70% - 76.60% -  
                   
  08/17 Bloomberg Consumer Comfort 06:45 13 Aug - - 51.40 -  
                   
  08/17 Leading Index 07:00 Jul 0.30% - 0.60% -  
                   
  08/18 U. of Mich. Sentiment 07:00 Aug P 94.00 - 93.40 -  
                   
 
 
 
 
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