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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-00 (+04)  
 
  FN 3.5% Coupon   102-24 (-01.5)  
 
  Support   2.431%  
 
  Resistance   2.310%  
 
 
 
 
Monday, December 11, 2017
 
 
Treasuries are slightly higher across the curve this morning from Friday’s close. The UST 10-Year yield is currently at 2.370% after closing at 2.377% during the prior session.

The economic calendar for the week kicked off today with the JOLTS Job Openings report, which reflected a drop to 5996 for October. The result comes in below a market survey of 6135 and a revised prior mark of 6177. Later today, the Treasury Department will auction $20 Billion 10-Year notes at 10:00 AM (PT).

On the economic calendar for the rest of the week, we have the Producer Price Index (PPI) and Monthly Budget Statement on Tuesday, Inflation readings and Mortgage Applications on Wednesday, Initial and Continuing Jobless Claims on Thursday, and Empire Manufacturing and Industrial Production on Friday. Finally, the FOMC will be meeting on Wednesday to determine whether current economic indicators warrant further increases in short-term interest rates.    

The curve has bull-flattened with the UST 10-Year yield down 0.7 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/11 JOLTS Job Openings 07:00 Oct 6135 5996 6093 6177  
                   
  12/12 NFIB Small Business Optimism 03:00 Nov 104.00 - 103.80 -  
                   
  12/12 PPI Final Demand MoM 05:30 Nov 0.30% - 0.40% -  
                   
  12/12 PPI Final Demand YoY 05:30 Nov 2.90% - 2.80% -  
                   
  12/12 Monthly Budget Statement 11:00 Nov -$135.00 b - -$136.70 b -  
                   
  12/13 MBA Mortgage Applications 04:00 8 Dec - - 4.70% -  
                   
  12/13 CPI MoM 05:30 Nov 0.40% - 0.10% -  
                   
  12/13 CPI YoY 05:30 Nov 2.20% - 2.00% -  
                   
  12/13 FOMC Rate Decision (Upper Bound) 11:00 13 Dec 1.50% - 1.25% -  
                   
  12/13 FOMC Rate Decision (Lower Bound) 11:00 13 Dec 1.25% - 1.00% -  
                   
  12/14 Initial Jobless Claims 05:30 9 Dec 236k - 236k -  
                   
  12/14 Continuing Claims 05:30 2 Dec 1900k - 1908k -  
                   
  12/14 Import Price Index MoM 05:30 Nov 0.70% - 0.20% -  
                   
  12/14 Import Price Index YoY 05:30 Nov - - 2.50% -  
                   
  12/14 Export Price Index MoM 05:30 Nov - - 0.00% -  
                   
  12/14 Retail Sales Advance MoM 05:30 Nov 0.30% - 0.20% -  
                   
  12/14 Export Price Index YoY 05:30 Nov - - 2.70% -  
                   
  12/14 Bloomberg Consumer Comfort 06:45 10 Dec - - - -  
                   
  12/14 Markit US Manufacturing PMI 06:45 Dec P - - - -  
                   
  12/14 Markit US Services PMI 06:45 Dec P - - - -  
                   
  12/14 Markit US Composite PMI 06:45 Dec P - - - -  
                   
  12/14 Business Inventories 07:00 Oct - - 0.00% -  
                   
  12/15 Empire Manufacturing 05:30 Dec - - 19.40 -  
                   
  12/15 Industrial Production MoM 06:15 Nov - - 0.90% -  
                   
  12/15 Capacity Utilization 06:15 Nov - - 77.00% -  
                   
 
 
 
 
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