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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-28.5 (+01.5)  
 
  FN 3.5% Coupon   102-08.5 (+02.5)  
 
  Support   2.574%  
 
  Resistance   2.460%  
 
 
 
 
Friday, December 30, 2016
 
 
The UST 10-Year yield is at 2.473% this morning after closing at 2.476% yesterday.

Today marks the last trading day for the month, the quarter and most importantly, all of 2016. Investors and traders position themselves for the New Year, wishing to leave behind the excessive volatility that was brought on by national and global events. The open to 2016 started with concerns that the Chinese economy was slowing, producing a global sell-off, then came Brexit in June and Trump’s electoral victory in November all culminated into a sharp market sell-off.

The only economic data released this morning was the Chicago Purchasing Managers Index, dropped to 54.60, from 57.60; indicating that business activity in the Midwest slowed in December, after 6 months of continued expansion. Production fell 0.60% to 58.50, new orders decreased 6.70% to 56.50, and order backlogs fell by 10.20% to 42.60 as supplier deliveries and prices paid rose by 0.80% and 1.20%, respectively.

The curve has bull-steepened with the UST 10-Year 0.3 bp down from prior closing.

Have A Lovely Weekend & Happy New Year!

 
 
   
 
   
 
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 56.80 54.60 57.60 -  
                   
 
 
 
 
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