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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-29.5 (-06.5)  
 
  FN 3.5% Coupon   102-20.5 (-05)  
 
  Support   2.431%  
 
  Resistance   2.304%  
 
 
 
 
Friday, December 15, 2017
 
 
Today’s session opened with Treasuries lower than yesterday. The yield on the UST 10-Year is currently at 2.365% after closing at 2.350% during the prior session.

The economic calendar for the week concludes today with prints for manufacturing survey, industrial production, manufacturing production and capacity utilization. The Empire Manufacturing Survey for December dropped to 18.00 from 19.40 prior, slightly short of an estimated 18.70. Month-over-month Industrial Production for November increased 0.20%, falling short of the expected 0.30% and below its previous revised mark of 1.20%. Month-over-month Manufacturing Production for November also increased 0.20%, falling short of the expected 0.30% and below its previous revised mark of 1.40%. Finally, Capacity Utilization for November rose to 77.10% from 77.00% prior, but fell slightly below survey of 77.20%.

Congressional Republicans are scheduled to unveil today the legislative-majority agreed language for the tax overhaul bill as a result of the conference committee between Senate and House negotiators. The political sight is still set on turning the bill into law before year end.

The curve has bear-flattened with the UST 10-Year yield up 1.5 bps from prior closing.

Have A Nice Weekend!
 
 
   
 
   
 
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 104.00 107.50 103.80 -  
                   
  12/12 PPI Final Demand MoM 05:30 Nov 0.30% 0.40% 0.40% -  
                   
  12/12 PPI Final Demand YoY 05:30 Nov 2.90% 3.10% 2.80% -  
                   
  12/12 Monthly Budget Statement 11:00 Nov -$134.50 b -$138.50 b -$136.70 b -  
                   
  12/13 MBA Mortgage Applications 04:00 8 Dec - -2.30% 4.70% -  
                   
  12/13 CPI MoM 05:30 Nov 0.40% 0.40% 0.10% -  
                   
  12/13 CPI YoY 05:30 Nov 2.20% 2.20% 2.00% -  
                   
  12/13 FOMC Rate Decision (Upper Bound) 11:00 13 Dec 1.50% 1.50% 1.25% -  
                   
  12/13 FOMC Rate Decision (Lower Bound) 11:00 13 Dec 1.25% 1.25% 1.00% -  
                   
  12/14 Initial Jobless Claims 05:30 9 Dec 236k 225k 236k -  
                   
  12/14 Continuing Claims 05:30 2 Dec 1900k 1886k 1908k 1913k  
                   
  12/14 Import Price Index MoM 05:30 Nov 0.70% 0.70% 0.20% 0.10%  
                   
  12/14 Import Price Index YoY 05:30 Nov 3.20% 3.10% 2.50% 2.30%  
                   
  12/14 Export Price Index MoM 05:30 Nov 0.30% 0.50% 0.00% 0.10%  
                   
  12/14 Retail Sales Advance MoM 05:30 Nov 0.30% 0.80% 0.20% 0.50%  
                   
  12/14 Export Price Index YoY 05:30 Nov - 3.10% 2.70% -  
                   
  12/14 Bloomberg Consumer Comfort 06:45 10 Dec - 51.30 52.30 -  
                   
  12/14 Markit US Manufacturing PMI 06:45 Dec P 53.90 55.00 53.90 -  
                   
  12/14 Markit US Services PMI 06:45 Dec P 54.70 52.40 54.50 -  
                   
  12/14 Markit US Composite PMI 06:45 Dec P - 53.00 54.50 -  
                   
  12/14 Business Inventories 07:00 Oct -0.10% -0.10% 0.00% -  
                   
  12/15 Empire Manufacturing 05:30 Dec 18.70 18.00 19.40 -  
                   
  12/15 Industrial Production MoM 06:15 Nov 0.30% 0.20% 0.90% 1.20%  
                   
  12/15 Capacity Utilization 06:15 Nov 77.20% 77.10% 77.00% -  
                   
 
 
 
 
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