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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-16 (+07.5)  
 
  FN 3.5% Coupon   105-10.5 (+02.5)  
 
  Support   1.599%  
 
  Resistance   1.480%  
 
 
 
 
Today's Blurb Monday, August 22, 2016
 
 
     The UST 10-Year yield is at 1.550% this morning after closing at 1.580% on Friday.
 
    10-Year Treasury yields rose by 4 bps on Friday following hawkish talk from Fed officials last week. Fed Vice Chairman Fischer added Sunday that the US economy is close to meeting the central bank goals and growth will likely pick up soon. He joins other fed officials who believe a rate hike could still happen this year. Despite the hawkish sentiment, the 10-Year yield is 3 bps lower this morning and continues to trade within a 1.50% to 1.60% range. 
 
    The only data we had today was the Chicago Fed's National Activity index which came in at 0.27 vs. 0.20 expected, the highest reading in 12 months. For the rest of the week we have new Home Sales and Redbook on Tuesday, Existing home sales, Mortgage Applications and FHFA House Price Index on Wednesday, Jobless Claims and Durable Goods on Thursday and GDP on Friday. Janet Yellen is expected to give a speech on Friday at Jackson Hole.
 
    The curve has bull flattened by 2.5 bps with UST 10-Year yield down 3 bps from prior.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/22 Chicago Fed Nat Activity Index 05:30 Jul 0.20 0.27 0.16 0.05  
                   
  08/23 Markit US Manufacturing PMI 06:45 Aug P 52.70 - 52.90 -  
                   
  08/23 New Home Sales 07:00 Jul 580K - 592K -  
                   
  08/23 New Home Sales MoM 07:00 Jul -2.00% - 3.50% -  
                   
  08/24 MBA Mortgage Applications 04:00 19 Aug - - -4.00% -  
                   
  08/24 FHFA House Price Index MoM 06:00 Jun 0.30% - 0.20% -  
                   
  08/24 Existing Home Sales 07:00 Jul 5.51 M - 5.57 M -  
                   
  08/24 Existing Home Sales MoM 07:00 Jul -1.10% - 1.10% -  
                   
  08/25 Initial Jobless Claims 05:30 20 Aug 265K - 262K -  
                   
  08/25 Continuing Claims 05:30 13 Aug 2148K - 2175K -  
                   
  08/25 Durable Goods Orders 05:30 Jul P 3.50% - -3.90% -  
                   
  08/25 Durables Ex Transportation 05:30 Jul P 0.40% - -0.40% -  
                   
  08/25 Markit US Services PMI 06:45 Aug P 51.80 - 51.40 -  
                   
  08/25 Markit US Composite PMI 06:45 Aug P - - 51.80 -  
                   
  08/25 Bloomberg Consumer Comfort 06:45 21 Aug - - 43.60 -  
                   
  08/25 Kansas City Fed Manf. Activity 08:00 Aug - - -6.00 -  
                   
  08/26 Personal Consumption 05:30 2Q S - - 4.20% -  
                   
  08/26 GDP Price Index 05:30 2Q S - - 2.20% -  
                   
  08/26 Core PCE QoQ 05:30 2Q S - - 1.70% -  
                   
  08/26 U. of Mich. Sentiment 07:00 Aug F - - - -  
                   
 
 
 
 
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