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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-23.5 (+03)  
 
  FN 3.5% Coupon   105-11.5 (+0.5)  
 
  Support   1.599%  
 
  Resistance   1.498%  
 
 
 
 
Today's Blurb Tuesday, August 23, 2016
 
 
     The UST 10-Year yield is at 1.530% this morning after closing at 1.540% yesterday.
 
    10-Year Treasury yields fell by 4 bps on Monday despite hawkish comments from various Fed officials over the past week. 10-Year Treasuries have been stuck in a 15 basis point range all of August.
 
    Economic data this morning was mixed with US Manufacturing PMI at 52.10 vs. 52.60 expected and Richmond Fed Index at -11.00 vs. 6.00 expected. The lone bright spot was New Home Sales which came in at 654k vs. 580k expected, a 12.40% month over month improvement.
 
    For the rest of the week we have 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 1 bp with UST 10-Year yield down 1 bp 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 52.60 52.10 52.90 -  
                   
  08/23 New Home Sales 07:00 Jul 580K 654K 592K 582K  
                   
  08/23 New Home Sales MoM 07:00 Jul -2.00% 12.40% 3.50% 1.70%  
                   
  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 -1.20% - 1.10% -  
                   
  08/25 Initial Jobless Claims 05:30 20 Aug 265K - 262K -  
                   
  08/25 Continuing Claims 05:30 13 Aug 2155K - 2175K -  
                   
  08/25 Durable Goods Orders 05:30 Jul P 3.40% - -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 -2.00 - -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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