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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-18.5 (+03.5)  
 
  FN 3.5% Coupon   103-10 (+01)  
 
  Support   2.283%  
 
  Resistance   2.161%  
 
 
 
 
Monday, August 21, 2017
 
 
Treasuries are slightly higher across the curve this morning from Friday's close. The UST 10-Year yield is currently at 2.192% after closing at 2.195% prior.

This week's economic calendar kicks off with a fairly quiet Monday with just the Chicago Fed's national Activity Index which fell 0.01 in July from an upwardly revised 0.16 rise in June. The remainder of this week's calendar will have a mix of both major and secondary reports including Tuesday's FHFA House Price Index and Richmond Fed Manufacturing Index, Wednesday's Markit US Manufacturing, Services and Composite along with New Home Sales, Thursday's Existing Home Sales, and Friday's Durable Goods Orders data. Without much market movers on the calendar this week, investors will have their focus on Jackson Hole later this week.

The Kansas City Fed's annual Jackson Hole Policy Symposium will begin on Thursday with a scheduled speech by First Deputy Governor Kerstin Jochnick of Riskbank who is expected to speak on inflation. The main events are scheduled on Friday which will be headlined by Fed Chairwoman Yellen who will speak at 7:00 AM (PT) on financial stability, and will be followed by a speech by ECB President Draghi at 12:00 PM (PT).

The curve has bull-flattened with the UST 10-Year down 0.3 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/21 Chicago Fed Nat Activity Index 05:30 Jul 0.10 -0.01 0.13 0.16  
                   
  08/22 FHFA House Price Index MoM 06:00 Jun 0.50% - 0.40% -  
                   
  08/22 Richmond Fed Manufact. Index 07:00 Aug 10.00 - 14.00 -  
                   
  08/23 MBA Mortgage Applications 04:00 18 Aug - - 0.10% -  
                   
  08/23 Markit US Manufacturing PMI 06:45 Aug P 53.50 - 53.30 -  
                   
  08/23 Markit US Services PMI 06:45 Aug P 54.90 - 54.70 -  
                   
  08/23 Markit US Composite PMI 06:45 Aug P - - 54.60 -  
                   
  08/23 New Home Sales 07:00 Jul 610k - 610k -  
                   
  08/23 New Home Sales MoM 07:00 Jul 0.00% - 0.80% -  
                   
  08/24 Initial Jobless Claims 05:30 19 Aug 237k - 232k -  
                   
  08/24 Continuing Claims 05:30 12 Aug 1950k - 1953k -  
                   
  08/24 Bloomberg Consumer Comfort 06:45 20 Aug - - 52.10 -  
                   
  08/24 Existing Home Sales 07:00 Jul 5.55m - 5.52m -  
                   
  08/24 Existing Home Sales MoM 07:00 Jul 0.50% - -1.80% -  
                   
  08/24 Kansas City Fed Manf. Activity 08:00 Aug 11.00 - 10.00 -  
                   
  08/25 Durable Goods Orders 05:30 Jul P -6.00% - 6.40% -  
                   
  08/25 Durables Ex Transportation 05:30 Jul P - - - -  
                   
 
 
 
 
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