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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-06 (+12.5)  
 
  FN 3.5% Coupon   101-11 (+08.5)  
 
  Support   2.638%  
 
  Resistance   2.398%  
 
 
 
 
Monday, December 19, 2016
 
 
The UST 10-Year yield is at 2.553% this morning after closing at 2.592% on Friday.

Treasury yields are lower this morning as investors await Federal Reserve Chairwoman Yellen's speech later today at 10:30 AM (PT) at the University of Baltimore, just less than a week since the Feds raised interest rates and signaled a steeper path for rate hikes in 2017.

Today's economic calendar is very light, with Markit US Services PMI coming in lower than expected at 53.40 versus 55.20 consensus, and Markit US Composite PMI coming in at 53.70 versus 54.90 prior.

Heavier economic data will come later this week including reports on Existing Home Sales and MBA Mortgage Applications on Wednesday, Personal Income, Personal Consumption, Durable Goods Orders, and the final revision to 3Q GDP on Thursday, and New Home Sales and the University of Michigan Sentiment on Friday.

The curve has bull-flattened with the UST 10-Year down 3.9 bps from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/19 Markit US Services PMI 06:45 Dec P 55.20 53.40 54.60 -  
                   
  12/19 Markit US Composite PMI 06:45 Dec P - 53.70 54.90 -  
                   
  12/20 No Data - - - - - -  
                   
  12/21 MBA Mortgage Applications 04:00 16 Dec - - -4.00% -  
                   
  12/21 Existing Home Sales 07:00 Nov 5.50 M - 5.60 M -  
                   
  12/21 Existing Home Sales MoM 07:00 Nov -1.80% - 2.00% -  
                   
  12/22 Chicago Fed Nat Activity Index 05:30 Nov -0.10 - -0.08 -  
                   
  12/22 GDP Annualized QoQ 05:30 3Q T 3.30% - 3.20% -  
                   
  12/22 GDP Price Index 05:30 3Q T 1.40% - 1.40% -  
                   
  12/22 Personal Consumption 05:30 3Q T 2.80% - 2.80% -  
                   
  12/22 Core PCE QoQ 05:30 3Q T 1.70% - 1.70% -  
                   
  12/22 Durable Goods Orders 05:30 Nov P -4.80% - 4.60% -  
                   
  12/22 Durables Ex Transportation 05:30 Nov P 0.20% - 0.80% -  
                   
  12/22 Initial Jobless Claims 05:30 17 Dec 257 K - 254 K -  
                   
  12/22 Continuing Claims 05:30 10 Dec 2013 K - 2018 K -  
                   
  12/22 FHFA House Price Index MoM 06:00 Oct 0.50% - 0.60% -  
                   
  12/22 Bloomberg Consumer Comfort 06:45 18 Dec - - 45.50 -  
                   
  12/22 Personal Income 07:00 Nov - - - -  
                   
  12/22 Personal Spending 07:00 Nov - - - -  
                   
  12/22 Leading Index 07:00 Nov - - 0.10% -  
                   
  12/22 PCE Deflator MoM 07:00 Nov - - - -  
                   
  12/22 PCE Deflator YoY 07:00 Nov - - - -  
                   
  12/22 PCE Core MoM 07:00 Nov - - - -  
                   
  12/22 PCE Core YoY 07:00 Nov - - - -  
                   
  12/23 U. of Mich. Sentiment 07:00 Dec F - - - -  
                   
 
 
 
 
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