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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-26 (-19)  
 
  FN 3.5% Coupon   104-27 (-07)  
 
  Support   1.852%  
 
  Resistance   1.724%  
 
 
 
 
Thursday, October 27, 2016
 
 
    The UST 10-Year yield is at 1.824% this morning after closing at 1.794% yesterday.
    Treasury yields continue to climb this morning nearing a 5-month high. Durable Goods orders were expected to remain flat in September, however, orders actually fell to -0.10% as orders for U.S business equipment drop by the most seen in seven months. Core Durable Goods, excluding transportation orders which are typically volatile, rose to 0.20%. 
    Initial Jobless Claims came in at 258K, 2K higher than economists previously forecasted, but yet a 3K improvement from the previously revised 261K. U.S. continuing claims dropped by 15K from previous revised to 2039K in the week ended Oct 15. Applications for unemployment insurance are near historic lows and initial jobless claims have remained under 300K for 86 consecutive weeks, longest stretch since 1970.
    Consumer comfort increased to 43.90 from 41.30, the largest increase since January 2015. This increase was largely contributed to a 3.60 increase in the gauge of views on economy, a 2.30 increase in optimism for personal finances and a 1.90 increase in the view of future buying climate. 
    The curve has bear-steepened with the UST 10-Year 3 bps up from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/24 Chicago Fed Nat Activity Index 05:30 Sep -0.13 -0.14 -0.55 -0.72  
                   
  10/24 Markit US Manufacturing PMI 06:45 Oct P 51.50 53.20 51.50 -  
                   
  10/25 FHFA House Price Index MoM 06:00 Aug 0.40% 0.70% 0.50% -  
                   
  10/25 Consumer Confidence Index 07:00 Oct 101.50 98.60 104.10 103.50  
                   
  10/25 Richmond Fed Manufact. Index 07:00 Oct -4.00 -4.00 -8.00 -  
                   
  10/26 MBA Mortgage Applications 04:00 21 Oct - -4.10% 0.60% -  
                   
  10/26 Wholesale Inventories MoM 05:30 Sep P 0.10% 0.20% -0.20% -0.10%  
                   
  10/26 Markit US Services PMI 06:45 Oct P 52.50 54.80 52.30 -  
                   
  10/26 Markit US Composite PMI 06:45 Oct P - 54.90 52.30 -  
                   
  10/26 New Home Sales 07:00 Sep 600K 593K 609K 575K  
                   
  10/26 New Home Sales MoM 07:00 Sep -1.50% 3.10% -7.60% -8.60%  
                   
  10/27 Durable Goods Orders 05:30 Sep P 0.00% -0.10% 0.10% 0.30%  
                   
  10/27 Durables Ex Transportation 05:30 Sep P 0.20% 0.20% -0.20% 0.10%  
                   
  10/27 Initial Jobless Claims 05:30 22 Oct 256K 258K 260K 261K  
                   
  10/27 Continuing Claims 05:30 15 Oct 2052K 2039K 2057K 2054K  
                   
  10/27 Bloomberg Consumer Comfort 06:45 23 Oct - 43.90 41.30 -  
                   
  10/27 Kansas City Fed Manf. Activity 08:00 Oct 3.00 - 6.00 -  
                   
  10/28 GDP Annualized QoQ 05:30 3Q A 2.50% - 1.40% -  
                   
  10/28 Personal Consumption 05:30 3Q A 2.60% - 4.30% -  
                   
  10/28 GDP Price Index 05:30 3Q A 1.40% - 2.30% -  
                   
  10/28 Core PCE QoQ 05:30 3Q A 1.60% - 1.80% -  
                   
  10/28 U. of Mich. Sentiment 07:00 Oct F 88.20 - 87.90 -  
                   
 
 
 
 
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