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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-09.5 (-17) 2.192%  
 
  FN 3.5% Coupon   103-28 (-09)  
 
  Support   2.280%  
 
  Resistance   2.040%  
 
 
 
 
Today's Blurb Monday, September 21, 2015
 
 
     This week we get data on Home Sales/Prices along with the headline for GDP. Today we get Existing Home Sales, tomorrow the FHFA releases their HPI followed by Durable Goods Orders on Thursday and Friday's GDP release. Friday's GDP reading is the 2Q third estimate and is expected to remain at 3.70%. Existing Home Sales fell 4.80% in August (consensus -1.60%) and July was revised down from 2.00% to 1.80%. Treasuries halted two consecutive days of gains this morning as market participants begin to speculate about a rate hike later this year after the Fed left the benchmark rate unchanged last week. The curve has bear steepened with 2s10s up 1.5 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/21 Existing Home Sales 07:00 Aug 5.50 MM 5.31 MM 5.59 MM 5.58 MM  
                   
  09/21 Existing Home Sales MoM 07:00 Aug -1.60% -4.80% 2.00% 1.80%  
                   
  09/22 Richmond Fed Manufacturing Index 07:00 Sep 2.00 - 0.00 -  
                   
  09/23 MBA Mortgage Applications 04:00 Sep 18 - - -7.00% -  
                   
  09/23 Markit US Manufacturing PMI 06:45 Sep P 52.70 - 53.00 -  
                   
  09/24 Chicago Fed Nat Activity Index 05:30 Aug 0.24 - 0.34 -  
                   
  09/24 Initial Jobless Claims 05:30 Sep 19 273K - 264K -  
                   
  09/24 Continuing Claims 05:30 Sep 12 2240K - 2237K -  
                   
  09/24 Durable Goods Orders 05:30 Aug -2.30% - 2.00% 2.20%  
                   
  09/24 Bloomberg Consumer Comfort 06:45 Sep 20 - - 40.20 -  
                   
  09/24 New Home Sales 07:00 Aug 515K - 507K -  
                   
  09/24 New Home Sales MoM 07:00 Aug 1.60% - 5.40% -  
                   
  09/24 Kansas City Fed Manf. Activity 08:00 Sep -6.00 - -9.00 -  
                   
  09/25 GDP Annualized QoQ 05:30 2Q T 3.70% - 3.70% -  
                   
  09/25 Personal Consumption 05:30 2Q T 3.20% - 3.10% -  
                   
  09/25 Markit US Composite PMI 06:45 Sep P - - 55.70 -  
                   
  09/25 Markit US Services PMI 06:45 Sep P 55.60 - 56.10 -  
                   
  09/25 U. of Mich. Sentiment 07:00 Sep F 86.50 - 85.70 -  
                   
 
 
 
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