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Market Commentary

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Market Commentary


Monday
August 18, 2014
10-YEAR NOTES   100-02 (-06) 2.367%
FN 3.5% COUPON   102-22.5 (-04)
SUPPORT   2.800%
RESISTANCE   2.400%
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We have a quiet Monday on the calendar today ahead of this week’s Housing, CPI and PMI data. The NAHB housing market index jumped +4 points in July to 53, its best level since January, and a flat reading is expected for August. Treasuries continue to test resistance levels with yields approaching 14 month lows, and the curve has bear steepened as easing geopolitical tensions are dampening demand for safe haven assets with 2s10s up 1.5 bps.

This Week's Events:

DATE EVENT TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
08/18 NAHB Housing Market Index 07:00 August 53 - 53 -
08/19 CPI MoM 05:30 July 0.1% - 0.3% -
08/19 CPI YoY 05:30 July 2.0% - 2.1% -
08/19 Housing Starts 05:30 July 966 K - 893 K -
08/19 Housing Starts MoM 05:30 July 8.1% - -9.3% -
08/19 Building Permits 05:30 July 1000 K - 963 K 973 K
08/19 Building Permits MoM 05:30 July 2.8% - -4.2% -3.2%
08/20 MBA Mortgage Applications 04:00 August 15 - - -2.7% -
08/20 FOMC Minutes 11:00 - - - - -
08/21 Jobless Claims 05:30 August 16 300 K - 311 K -
08/21 Continuing Claims 05:30 August 9 2520 K - 2544 K -
08/21 Markit Manufacturing PMI 06:45 August P 55.7 - 55.8 -
08/21 Philli Fed 07:00 August 19.4 - 23.9 -
08/21 Existing Home Sales 07:00 July 5.01 Million - 5.04 Million -
08/21 Existing Home Sales MoM 07:00 July -0.6% - 2.6% -
08/21 Leading Index 07:00 July 0.6% - 0.3% -
08/22 No Data - - - - - -

 

 

 
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