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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-31.5 (-8)  
 
  FN 3.5% Coupon   102-24 (-4)  
 
  Support   2.411%  
 
  Resistance   2.287%  
 
 
 
 
Tuesday, November 29, 2016
 
 

The UST 10-Year yield is at 2.341% this morning after closing at 2.313% yesterday.

Treasury yields climbed this morning after a revised reading on third quarter GDP growth reflected the US economy grew at its fastest pace in over two years.

Real gross domestic product rose at an annual rate of 3.20% in the third quarter of 2016, uplifted by contributions from consumers, government and businesses. Consumer spending rose 2.80% annualized rate, stronger than the 2.30% pace initially estimated. Final domestic sales increased at 1.70% rate after previously reported at a 1.40% pace.

This heavy economic data week continues with Wednesday’s ADP Employment Change, Mortgage Applications and Personal Income & Spending, Thursday’s Initial Jobless Claims, Continuing Claims, and Construction Spending, and Friday’s Nonfarm Payroll and Unemployment Rate for the month of November.

The curve has bear-steepened with UST 10-Year yield up 2.8 bps from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/28 Dallas Fed Manf. Activity 07:30 Nov 2.00 10.20 -1.50 -  
                   
  11/29 GDP Annualized QoQ 05:30 3Q S 3.00% 3.20% 2.90% -  
                   
  11/29 Personal Consumption 05:30 3Q S 2.30% 2.80% 2.10% -  
                   
  11/29 GDP Price Index 05:30 3Q S 1.50% 1.40% 1.50% -  
                   
  11/29 S&P CoreLogic CS US HPI MoM SA 06:00 Sep - 0.83% 0.61% 0.62%  
                   
  11/29 S&P CoreLogic CS US HPI YoY NSA 06:00 Sep - 5.46% 5.32% 5.15%  
                   
  11/29 Consumer Confidence Index 07:00 Nov 101.50 - 98.60 -  
                   
  11/30 MBA Mortgage Applications 04:00 25 Nov - - 5.50% -  
                   
  11/30 ADP Employment Change 05:15 Nov 169K - 147K -  
                   
  11/30 Personal Income 05:30 Oct 0.40% - 0.30% -  
                   
  11/30 Personal Spending 05:30 Oct 0.50% - 0.50% -  
                   
  11/30 PCE Deflator MoM 05:30 Oct 0.30% - 0.20% -  
                   
  11/30 PCE Deflator YoY 05:30 Oct 1.50% - 1.20% -  
                   
  11/30 PCE Core MoM 05:30 Oct 0.10% - 0.10% -  
                   
  11/30 PCE Core YoY 05:30 Oct - - - -  
                   
  11/30 U.S. Federal Reserve Releases Beige Book 11:00 - - - - -  
                   
  12/01 Challenger Job Cuts YoY 04:30 Nov - - -39.10% -  
                   
  12/01 Initial Jobless Claims 05:30 26 Nov - - 251K -  
                   
  12/01 Continuing Claims 05:30 19 Nov - - 2040K -  
                   
  12/01 Bloomberg Consumer Comfort 06:45 27 Nov - - 44.80 -  
                   
  12/01 Markit US Manufacturing PMI 06:45 Nov F - - 53.90 -  
                   
  12/01 Construction Spending MoM 07:00 Oct 0.60% - -0.40% -  
                   
  12/01 ISM Manufacturing 07:00 Nov 52.00 - 51.90 -  
                   
  12/02 Change in Nonfarm Payrolls 05:30 Nov 180K - 161K -  
                   
  12/02 Unemployment Rate 05:30 Nov 4.90% - 4.90% -  
                   
  12/02 Average Hourly Earnings MoM 05:30 Nov 0.20% - 0.40% -  
                   
  12/02 Average Hourly Earnings YoY 05:30 Nov 2.80% - 2.80% -  
                   
  12/02 Labor Force Participation Rate 05:30 Nov - - 62.80% -  
                   
  12/02 ISM New York 06:45 Nov - - 49.20 -  
                   
 
 
 
 
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