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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-14 (-04.5)  
 
  FN 3.5% Coupon   102-17.5 (-02.5)  
 
  Support   2.497%  
 
  Resistance   2.310%  
 
 
 
 
Thursday, December 28, 2017
 
 
Today’s session opened with Treasuries lower than yesterday. The yield on the UST 10-Year is currently at 2.422% after closing at 2.412% during the prior session.

Today we received the preliminary month-over-month Wholesale Inventories report for November, which rose by 0.70%, exceeding estimates for the period of 0.30% and also exceeding its -0.40% prior revised. Also in today, month-over-month Retail Inventories rose during November by 0.10% versus a prior mark of -0.10%. Further, Initial Jobless Claims for the week ended December 23 reached 245k, higher than the expected 240k but in line with its 245k prior; while Continuing Claims for the week ended December 16 reached 1943k, above survey of 1900k and its 1936 prior revised. Finally, the Chicago Purchasing Manager Index rose to 67.60 for December, exceeding a survey of 62.00 and a 63.90 prior.

The Treasury Department will auction today $28 Billion of 7-Year notes at 10:00 AM (PT). The economic calendar will continue on Tuesday, January 2nd, 2018

The curve has bear-steepened with the UST 10-Year yield up 1.0 bp from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/25 No Data - - - - - -  
                   
  12/26 S&P CoreLogic CS 20-City MoM SA 06:00 Oct 0.60% 0.70% 0.52% 0.97%  
                   
  12/26 S&P CoreLogic CS 20-City YoY NSA 06:00 Oct 6.25% 6.38% 6.19% 6.16%  
                   
  12/26 Richmond Fed Manufact. Index 07:00 Dec 21.00 20.00 30.00 -  
                   
  12/26 Dallas Fed Manf. Activity 07:30 Dec 20.00 29.70 19.40 -  
                   
  12/27 Pending Home Sales MoM 07:00 Nov -0.40% 0.20% 3.50% -  
                   
  12/27 Pending Home Sales NSA YoY 07:00 Nov - 0.60% 1.20% -  
                   
  12/28 Initial Jobless Claims 05:30 23 Dec 240k 245k 245k -  
                   
  12/28 Continuing Claims 05:30 16 Dec 1900k 1943k 1932k 1936k  
                   
  12/28 Wholesale Inventories MoM 05:30 Nov P 0.30% 0.70% -0.50% -0.40%  
                   
  12/28 Bloomberg Consumer Comfort 06:45 24 Dec - 52.40 50.80 -  
                   
  12/29 No Data - - - - - -  
                   
 
 
 
 
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