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Market Commentary

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Market Commentary


Tuesday
October 14, 2014
10-YEAR NOTES   101-15 (+27)
2.208%
FN 3.5% COUPON   103-18 (+15)
SUPPORT   2.660%
RESISTANCE   2.200%
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September NFIB Small Business Optimism fell to 95.3 vs., 96.1 prior. The top contributing factors weighing on the index were drops in current job openings and capital spending plans, followed by dips in earnings trends and the outlook for credit conditions. Treasuries extended their rally this morning as concerns to the Fed’s ability to reach its inflationary goals coupled with a dismal global growth outlook for the medium-short term fueled demand for safe haven assets. The curve has bull flattened with 2s10s down -4.4 bps and the 10-Year Yield is testing current resistance levels.

This Week's Events:

DATE EVENTS TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
10/14 NFIB Small Business Optimism 04:30 September 95.8 95.3 96.1 -
10/15 MBA Mortgage Applications 04:00 October 10 - - 3.8% -
10/15 Empire Manufacturing 05:30 October 20.70 - 27.54 -
10/15 Retail Sales Advance MoM 05:30 September -0.2% - 0.6% -
10/15 PPI Final Demand MoM 05:30 September 0.1% - 0.0% -
10/15 PPI Final Demand YoY 05:30 September 1.8% - 1.8% -
10/15 Monthly Budget Statement 11:00 September $90.0 Billion - $75.1 Billion -
10/15 Beige Book 11:00 - - - - -
10/16 Initial Jobless Claims 05:30 October 11 290K - 287K -
10/16 Continuing Claims 05:30 October 4 2380K - 2381K -
10/16 Industrial Production MoM 06:15 September 0.4% - -0.1% -
10/16 Capacity Utilization 06:15 September 79.0% - 78.8% -
10/17 Housing Starts 05:30 September 1005K - 956K -
10/17 Housing Starts MoM 05:30 September 5.1% - -14.4% -
10/17 Building Permits 05:30 September 1030K - 998K 1003K
10/17 Building Permits MoM 05:30 September 2.7% - -5.6% -5.1%

 

 

 
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