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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-08 (-01) 2.197%  
 
  FN 3.5% Coupon   103-22.5 (+00.5)  
 
  Support   2.210%  
 
  Resistance   1.990%  
 
 
 
 
Today's Blurb Thursday, September 3, 2015
 
 
        Jobless Claims rose 12K to 282K last week vs. 270K prior (consensus 275K). The four-week moving average for Initial Claims rose 3K to 276K. Continuing Claims fell 9K to 2257K from 2266K prior. The Trade Deficit for Goods & Services narrowed $3.35 Billion in July to -$41.86 Billion (consensus -$42.20 Billion) and June was revised down from -$43.84 Billion to -$45.21 Billion. July Exports rose 0.40% after falling 0.10% in June while Imports declined 1.10% after rising 1.10%. Markit US Composite PMI rose to 55.70 vs. 55.00 prior and the Markit US Services PMI rose to 56.10 vs. 55.20 prior. Tomorrow we get August Nonfarm Payrolls in which there is expected to be 219K new jobs, and the Unemployment rate is expected to fall one-tenth to 5.20% vs. 5.30% prior. Treasuries are hovering near yesterday’s 2:00 PM (PT) close following this morning’s data, and the curve has bull steepened with 2s10s up 0.4 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  08/31 ISM Milwaukee 06:00 Aug 50.00 47.67 47.12 -  
                   
  08/31 Dallas Fed Manf. Activity 07:30 Aug -4.00 -15.80 -4.60 -  
                   
  09/01 Markit US Manufacturing PMI 06:45 Aug F 52.90 53.00 52.90 -  
                   
  09/01 Construction Spending MoM 07:00 Jul 0.60% 0.70% 0.10% 0.70%  
                   
  09/01 ISM Manufacturing 07:00 Aug 52.50 51.10 52.70 -  
                   
  09/02 MBA Mortgage Applications 04:00 Aug 28 - 11.30% 0.20% -  
                   
  09/02 ADP Employment Change 05:15 Aug 200K 190K 185K 177K  
                   
  09/02 Nonfarm Productivity 05:30 2Q F 2.80% 3.30% 1.30% -  
                   
  09/02 ISM New York 06:45 Aug - 51.10 68.80 -  
                   
  09/02 Factory Orders 07:00 Jul 0.90% 0.40% 1.80% 2.20%  
                   
  09/02 Beige Book 11:00 - - - - -  
                   
  09/03 Initial Jobless Claims 05:30 Aug 29 275K 282K 271K 270K  
                   
  09/03 Continuing Claims 05:30 Aug 22 2253K 2257K 2269K 2266K  
                   
  09/03 Trade Balance 05:30 Jul -$42.20 Bn -$41.86 Bn -$43.84 Bn -$45.21 Bn  
                   
  09/03 Markit US Composite PMI 06:45 Aug F - 55.70 55.00 -  
                   
  09/03 Markit US Services PMI 06:45 Aug F 55.00 56.10 55.20 -  
                   
  09/04 Change in Nonfarm Payrolls 05:30 Aug 219K - 215K -  
                   
  09/04 Unemployment Rate 05:30 Aug 5.20% - 5.30% -  
                   
  09/04 Average Hourly Earnings MoM 05:30 Aug 0.20% - 0.20% -  
                   
  09/04 Average Hourly Earnings YoY 05:30 Aug 2.10% - 2.10% -  
                   
  09/04 Underemployment Rate 05:30 Aug - - 10.40% -  
                   
  09/04 Labor Force Participation Rate 05:30 Aug - - 62.60% -  
                   
 
 
 
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