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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-22.5 (+05)  
 
  FN 3.5% Coupon   102-02 (+06.5)  
 
  Support   2.575%  
 
  Resistance   2.466%  
 
 
 
 
Thursday, December 29, 2016
 
 
The UST 10-Year yield is at 2.493% this morning after closing at 2.509% yesterday.

In today’s economic news, the U.S. Census Bureau released its monthly advance indicators. The Advance International Trade in Goods deficit reported a 5.50% increase as the trade deficit widened to $65.30 Billion; the fourth highest advance since 2008. Exports dropped by $1.20 Billion, primarily due to a 4.10% decline in capital goods while Imports of goods increased by $2.20 Billion due to a 5.20% increase in demand for industrial materials. Advance Wholesale Inventories were up 0.90% to $594.50 Billion in November, and up 1.20% from a year ago.

The Department of Labor released filings for Initial Jobless Claims, reporting a 10K decrease in the week ended December 24, down to 265K. The 4-week average for new claims hiked from 249.50K in early October to 263K. Filings for Continuing Claims climbed by 63K to 2102K in the week ended December 17th.

Consumer Comfort dropped for the first time in 5 weeks to 46.00 for the period ended December 25th. The drop came after its highest increase since April 2015 to 46.70 just the week prior. The personal finance index fell 0.80 to 56.00, the buying climate index fell 0.20 to 40.90, and the polarization index (Democrats minus Republicans) hiked to 4.80 from 3.70, Republicans’ highest sentiment since March 2008.

The curve has bull-flattened with the UST 10-Year 1.6 bps down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/26 No Data - - - - - -  
                   
  12/27 S&P CoreLogic CS US HPI MoM SA 06:00 Oct - 0.85% 0.83% 0.80%  
                   
  12/27 S&P CoreLogic CS 20-City NSA Index 06:00 Oct - 191.79 191.78 191.68  
                   
  12/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Oct 5.03% 5.10% 5.08% 5.03%  
                   
  12/27 S&P CoreLogic CS US HPI YoY NSA 06:00 Oct - 5.61% 5.46% 5.39%  
                   
  12/27 Consumer Confidence Index 07:00 Dec 109.00 113.70 107.10 109.40  
                   
  12/27 Richmond Fed Manufact. Index 07:00 Dec 5.00 8.00 4.00 -  
                   
  12/28 Dallas Fed Manf. Activity 07:30 Dec 10.20 - 10.20 -  
                   
  12/29 Wholesale Inventories MoM 05:30 Nov P 0.20% 0.90% -0.40% -0.10%  
                   
  12/29 Initial Jobless Claims 05:30 24 Dec 265 K 265 K 275 K -  
                   
  12/29 Continuing Claims 05:30 17 Dec 2027 K 2102 K 2036 K 2039 K  
                   
  12/29 Bloomberg Consumer Comfort 06:45 25 Dec - 46.00 46.70 -  
                   
  12/30 Chicago Purchasing Manager 06:45 Dec 57.00 - 57.60 -  
                   
 
 
 
 
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