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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-09.5 (+06.5)  
 
  FN 3.5% Coupon   99-17 (+03.5)  
 
  Support   3.111%  
 
  Resistance   2.825%  
 
 
 
 
Monday, August 20, 2018
 
 
Treasuries are higher across the curve this morning from Friday's close. The UST 10-Year yield is currently at 2.836% after closing at 2.861% prior.

Treasuries rose overnight with U.S. Stocks and the dollar as global markets remain optimistic that U.S. and China are on track to resolve trade disputes. Trade tensions simmered last week and lifted market sentiment as the world's biggest economies agreed to resume talks on trade. Elsewhere, investors will have their attention on the annual Jackson Hole symposium as Fed members meet later this week hosted by the Kansas City Fed Bank. Atlanta Fed President Bostic is scheduled to speak this morning in Kingsport, Tennessee to discuss the U.S. economic outlook with the Johnson City, Kingsport and Bristol Chamber of Commerce.

This week we will have a light economic calendar without any reports available for Monday and Tuesday. On Wednesday, we will receive the Existing Home Sales for July and the FOMC Meeting Minutes from the Fed's latest conference on August 1st. Then on Thursday, we will receive the June FHFA House Price Index, the July New Home Sales, and the Markit US preliminary reports for August. Finally on Friday, we will receive the preliminary reports of the Durable Goods Orders and Capital Goods Orders and Shipments for the month of July.

The curve has bull-flattened with the UST 10-Year yield down 2.5 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/20 No Data - - - - - -  
                   
  08/21 No Data - - - - - -  
                   
  08/22 MBA Mortgage Applications 04:00 17 Aug - - -2.00% -  
                   
  08/22 Existing Home Sales 07:00 Jul 5.40m - 5.38m -  
                   
  08/22 Existing Home Sales MoM 07:00 Jul 0.40% - -0.60% -  
                   
  08/22 FOMC Meeting Minutes 11:00 1 Aug - - - -  
                   
  08/23 Initial Jobless Claims 05:30 18 Aug 215k - 212k -  
                   
  08/23 Continuing Claims 05:30 11 Aug 1735k - 1721k -  
                   
  08/23 FHFA House Price Index MoM 06:00 Jun 0.30% - 0.20% -  
                   
  08/23 Bloomberg Consumer Comfort 06:45 19 Aug - - 58.90 -  
                   
  08/23 Markit US Manufacturing PMI 06:45 Aug P 55.00 - 55.30 -  
                   
  08/23 Markit US Services PMI 06:45 Aug P 55.80 - 56.00 -  
                   
  08/23 Markit US Composite PMI 06:45 Aug P - - 55.70 -  
                   
  08/23 New Home Sales 07:00 Jul 647k - 631k -  
                   
  08/23 New Home Sales MoM 07:00 Jul 2.50% - -5.30% -  
                   
  08/23 Kansas City Fed Manf. Activity 08:00 Aug 23.00 - 23.00 -  
                   
  08/24 Durable Goods Orders 05:30 Jul P -0.70% - 0.80% -  
                   
  08/24 Durables Ex Transportation 05:30 Jul P 0.50% - 0.20% -  
                   
 
 
 
 
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