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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-13.5 (+07.5)  
 
  FN 3.5% Coupon   105-20.5 (+01)  
 
  Support   1.731%  
 
  Resistance   1.550%  
 
 
 
 
Tuesday, September 27, 2016
 
 
     The UST 10-Year yield is at 1.565% this morning after closing at 1.584% yesterday.
 
   In today‚Äôs economic news, the Markit U.S. Service PMI was released  at 51.90, showing an improvement over the previous month of 51.00 and the fastest monthly rise in activity since April. Growth in this sector has been continuously expanding over the past 7 months. The U.S. Markit Composite PMI, which tracks business trends across both manufacturing and service sectors, rose to 52.00 from 51.50 the previous month.
 
    Nearing month end, we see the Richmond Federal Manufacturing Index rose to -8.00, showing an overall improvement from the previous month at -11.00; new orders increased to -7.00 from -20.00, order backlogs rose to -20.00, from -21.00, however, levels of raw and finished goods fell by 2.00 and 4.00 respectively from last month.
 
    Lastly, the Consumer Confidence Index increased for a second consecutive month to 104.10 in September, its highest level since the recession.
 
     The curve has bull flattened with the 10-Year 1.9 bps down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/26 New Home Sales 07:00 Aug 600K 609K 654K 659K  
                   
  09/26 New Home Sales MoM 07:00 Aug -8.30% -7.60% 12.40% 13.80%  
                   
  09/26 Dallas Fed Manf. Activity 07:30 Sep -2.50 -3.70 -6.20 -  
                   
  09/27 S&P CoreLogic CS 20-City MoM SA 06:00 Jul 0.00% -0.01% -0.07% -0.10%  
                   
  09/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Jul 5.10% 5.02% 5.13% 5.11%  
                   
  09/27 Markit US Services PMI 06:45 Sep P 51.20 51.90 51.00 -  
                   
  09/27 Markit US Composite PMI 06:45 Sep P - 52.00 51.50 -  
                   
  09/27 Consumer Confidence Index 07:00 Sep 99.00 104.10 101.10 101.80  
                   
  09/28 MBA Mortgage Applications 04:00 23 Sep - - -7.30% -  
                   
  09/28 Durable Goods Orders 05:30 Aug P -1.50% - 4.40% -  
                   
  09/28 Durables Ex Transportation 05:30 Aug P -0.50% - 1.30% -  
                   
  09/29 Wholesale Inventories MoM 05:30 Aug P 0.00% - 0.00% -  
                   
  09/29 Initial Jobless Claims 05:30 24 Sep - - - -  
                   
  09/29 Continuing Claims 05:30 17 Sep - - - -  
                   
  09/29 GDP Annualized QoQ 05:30 2Q T 1.30% - 1.10% -  
                   
  09/29 Personal Consumption 05:30 2Q T 4.40% - 4.40% -  
                   
  09/29 GDP Price Index 05:30 2Q T - - 2.30% -  
                   
  09/29 Core PCE QoQ 05:30 2Q T - - 1.80% -  
                   
  09/29 Bloomberg Consumer Comfort 06:45 25 Sep - - - -  
                   
  09/30 Personal Income 05:30 Aug - - - -  
                   
  09/30 Personal Spending 05:30 Aug - - - -  
                   
  09/30 PCE Deflator MoM 05:30 Aug - - - -  
                   
  09/30 PCE Deflator YoY 05:30 Aug - - - -  
                   
  09/30 PCE Core MoM 05:30 Aug - - - -  
                   
  09/30 PCE Core YoY 05:30 Aug - - - -  
                   
  09/30 U. of Mich. Sentiment 07:00 Sep F - - - -  
                   
 
 
 
 
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