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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-13 (-02) 2.179%  
 
  FN 3.5% Coupon   103-24 (00)  
 
  Support   2.210%  
 
  Resistance   1.990%  
 
 
 
 
Today's Blurb Thursday, August 27, 2015
 
 
       Real Gross Domestic Product (GDP) rose +3.70% in the second quarter of 2015, according to the second estimate released by the Bureau of Economic Analysis. GDP was +0.60% in the first quarter of 2015. Personal Consumption rose in line with expectations, up +3.10% vs. 2.90% in the prior estimate and Core PCE continued to advance at +1.80% (consensus +1.80%). Initial Jobless Claims fell -6K to 271K from an unrevised 277K for the 25th consecutive week of Claims below 300K. Continuing Claims rose to 2269K vs. 2256K prior (consensus 2248K). Pending Home Sales disappointed expectations for a +1.00% advance, up +0.50% in July with June revised from -1.80% to -1.70%. Year-over-year Pending Home Sales rose by +7.20% vs. +11.10% prior. Treasuries are hovering near yesterday's close following the mixed data release this morning and the curve has bull flattened with 2s10s down -3.1 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/25 FHFA House Price Index MoM 06:00 Jun 0.40% 0.20% 0.40% 0.50%  
                   
  08/25 S&P/Case-Shiller US HPI MoM 06:00 Jun - 0.09% 0.04% 0.06%  
                   
  08/25 S&P/Case-Shiller US HPI YoY 06:00 Jun - 4.49% 4.39% 4.43%  
                   
  08/25 Markit US Composite PMI 06:45 Aug P - 55.00 55.70 -  
                   
  08/25 Markit US Services PMI 06:45 Aug P 55.10 55.20 55.70 -  
                   
  08/25 New Home Sales 07:00 Jul 510K 507K 482K 481K  
                   
  08/25 New Home Sales MoM 07:00 Jul 5.80% 5.40% -6.80% -7.70%  
                   
  08/26 MBA Mortgage Applications 04:00 Aug 21 - 0.20% 3.60% -  
                   
  08/26 Durable Goods Orders 05:30 Jul -0.40% 2.00% 3.40% 4.10%  
                   
  08/27 GDP Annualized QoQ 05:30 2Q S 3.20% 3.70% 2.30% -  
                   
  08/27 Personal Consumption 05:30 2Q S 3.10% 3.10% 2.90% -  
                   
  08/27 Initial Jobless Claims 05:30 Aug 22 274K 271K 277K -  
                   
  08/27 Continuing Claims 05:30 Aug 15 2248K 2269K 2254K 2256K  
                   
  08/27 Pending Home Sales MoM 07:00 Jul 1.00% 0.50% -1.80% -1.70%  
                   
  08/27 Pending Home Sales NSA YoY 07:00 Jul 8.30% 7.20% 11.10% -  
                   
  08/28 Personal Income 05:30 Jul 0.40% - 0.40% -  
                   
  08/28 Personal Spending 05:30 Jul 0.40% - 0.20% -  
                   
  08/28 PCE Core MoM 05:30 Jul 0.10% - 0.10% -  
                   
  08/28 PCE Core YoY 05:30 Jul 1.30% - 1.30% -  
                   
  08/28 U. of Mich. Sentiment 07:00 Aug F 93.00 - 92.90 -  
                   
 
 
 
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