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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-19.5 (+03.5) 2.156%  
 
  FN 3.5% Coupon   103-27 (-01)  
 
  Support   2.210%  
 
  Resistance   1.990%  
 
 
 
 
Today's Blurb Friday, September 4, 2015
 
 
       Although the headline missed expectations there are a lot of positive contributors to today‚Äôs Employment Report. Nonfarm Payrolls came in below expectations at 173K (consensus 217K) with July revised up from 215K to 245K. The Unemployment Rate fell to 5.10% vs. 5.30% prior (5.20% consensus), the lowest level since August 2008. The Labor Force Participation Rate held at 62.60%. Average hourly earnings increased 0.30% vs. 0.20% prior, and are up 2.20% YoY. The curve flattened following the data release with yields rising in the short end with 2-Year notes up 1.6 bps and falling at both long end with the 10-Year notes down 2.9 bps and the 30-Year bond down 5 bps.
Have A Nice Weekend!
 
 
   
 
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 217K 173K 215K 245K  
                   
  09/04 Unemployment Rate 05:30 Aug 5.20% 5.10% 5.30% -  
                   
  09/04 Average Hourly Earnings MoM 05:30 Aug 0.20% 0.30% 0.20% -  
                   
  09/04 Average Hourly Earnings YoY 05:30 Aug 2.10% 2.20% 2.10% 2.20%  
                   
  09/04 Underemployment Rate 05:30 Aug - 10.30% 10.40% -  
                   
  09/04 Labor Force Participation Rate 05:30 Aug 62.70% 62.60% 62.60% -  
                   
 
 
 
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