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Market Commentary

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Market Commentary


Monday
December 01, 2014
10-YEAR NOTES   100-24 (+09)
2.164%
FN 3.5% COUPON   104-12(+04)
SUPPORT   2.42%
RESISTANCE   2.00%
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Treasuries rallied over the weekend as falling oil prices pushed down Inflation expectations. Markit PMI Manufacturing Flash Index reported slowing growth so far for November, to 54.7 from 55.9 in October and from 56.2 in the October flash and 55 is expected for the final November reading. ISM Manufacturing rose to 59 in October vs. 56.6 in September, and is expected to slip to 58 for the November reading. The curve is opening flat to Friday’s close with MBS 1-2 ticks tighter to treasury hedges.

This Week's Events:

DATE EVENTS TIME (PST) PERIOD SURVEY ACTUAL PRIOR REVISED
12/01 Markit US Manufacturing PMI 06:45 November F 55.0 54.8 54.7 -
12/01 ISM Manufacturing 07:00 November 58.0 58.7 59.0 -
12/01 ISM Prices Paid 07:00 November 52.1 44.5 53.5 -
12/02 Construction Spending MoM 07:00 October 0.6% - -0.4% -
12/03 MBA Mortgage Applications 04:00 November 28 - - -4.3% -
12/03 ADP Employment Change 05:15 November 225K - 230K -
12/03 Markit US Services PMI 06:45 November F 56.5 - 56.3 -
12/03 Markit US Composite PMI 06:45 November F - - 56.1 -
12/04 Initial Jobless Claims 05:30 November 29 295K - 313K -
12/04 Continuing Claims 05:30 November 22 2314K - 2316K -
12/05 Nonfarm Payrolls 05:30 November 230K - 214K -
12/05 Unemployment Rate 05:30 November 5.8% - 5.8% -

 

 

 
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