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Market Commentary


 
Today's Coupons
 
  10-Year Notes   101-22.5 (-05)  
 
  FN 3.5% Coupon   103-26.5 (-02.5)  
 
  Support   2.166%  
 
  Resistance   2.016%  
 
 
 
 
Friday, September 08, 2017
 
 
Treasuries are lower across the curve this morning from yesterday's close. The UST 10-Year yield is currently at 2.066% after closing at 2.040% prior.

Yesterday Treasuries rallied after the ECB announced their decision to keep their current policy unchanged noting that their economic growth has been better than expected, but the underlying inflation measures have yet to show signs of a sustained upward trend. Without much market moving economic reports to end the week, investors will continue to gauge the potential damage of Hurricane Irma, which is expected to make its landfall in Miami, FL as early as Saturday morning.

This morning's economic calendar included the Wholesale Inventories for July, which rose above expectations at 0.60% versus a 0.40% increase per consensus. The July Wholesale Trade Sales dropped 0.10% following a downwardly revised 0.60% rise prior. The July Consumer Credit report will be released later today at 12:00 PM (PT), which is expected to show $15 Billion in monthly credit growth following a $12.397 Billion growth in June.

The curve has bear-steepened with the UST 10-Year up 2.6 bps from prior closing.

Have A Wonderful Weekend!
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/04 No Data - - - - - -  
                   
  09/05 Factory Orders 07:00 Jul -3.30% -3.30% 3.00% 3.20%  
                   
  09/05 Durable Goods Orders 07:00 Jul F -2.90% -6.80% -6.80% -  
                   
  09/05 Durables Ex Transportation 07:00 Jul F - 0.60% 0.50% -  
                   
  09/06 MBA Mortgage Applications 04:00 1 Sep - 3.30% -2.30% -  
                   
  09/06 Trade Balance 05:30 Jul -$44.70b -$43.70b -$43.60b -$43.50b  
                   
  09/06 Markit US Services PMI 06:45 Aug F 56.90 56.00 56.90 -  
                   
  09/06 Markit US Composite PMI 06:45 Aug F - 55.30 56.00 -  
                   
  09/06 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  09/07 Initial Jobless Claims 05:30 2 Sep 245k 298k 236k -  
                   
  09/07 Continuing Claims 05:30 26 Aug 1945k 1940k 1942k 1945k  
                   
  09/07 Nonfarm Productivity 05:30 2Q F 1.30% 1.50% 0.90% -  
                   
  09/07 Unit Labor Costs 05:30 2Q F 0.30% 0.20% 0.60% -  
                   
  09/07 Bloomberg Consumer Comfort 06:45 3 Sep - 52.60 53.30 -  
                   
  09/08 Wholesale Inventories MoM 07:00 Jul F 0.40% 0.60% 0.40% -  
                   
  09/08 Wholesale Trade Sales MoM 07:00 Jul 0.50% -0.10% 0.70% 0.60%  
                   
 
 
 
 
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