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Market Commentary

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Market Commentary


Monday
February 24, 2014
10-YEAR NOTES   100-01 (-1) 2.743%
FN 3.5% COUPON   100-19+ (-3.5)
SUPPORT   3.00%
RESISTANCE   2.60%
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January’s Chicago Fed Index fell sharply to -0.39% vs. -0.03 prior; the index’s second down month following a leap of +0.73 in November. Production and Retail sales pulled down the main index with production posting -0.36 and Retail sales at -0.18. Positive contributions came from employment at +0.13 and sales/orders/inventories at +0.02. Dallas Fed Manufacturing activity is also expected to show a slow in growth with February expectations set at 3% vs. 3.8% prior. A slightly bear flatter curve persists with 2s10s down 0.5 bps.

Today's Event :

DATE EVENTS TIME PERIOD SURVEY ACTUAL PRIOR REVISED
02/24 Chicago Fed Index 08:30 January -0.20 -0.39 0.16 -0.03
02/24 Dallas FedManf. 10:30 February 3.0 - 3.8 -
02/25 HPI MoM 09:00 December 0.3% - 0.1% -
02/25 Richmond Fed Manuf. 10:00 February 5 - 12 -
02/26 MBA Mortgage Applications 07:00 February 21 - - -4.1% -
02/26 New Home Sales 10:00 January 400K - 414K -
02/27 Durable Goods Orders 08:30 January -1.5% - -4.3% -4.2%
02/27 Initial Jobless Claims 08:30 February 22 335K - 336K -
02/27 Continuing Claims 08:30 February 15 2995K - 2981K -
02/28 GDPAnnualized QoQ 08:30 4Q S 2.5% - 3.2% -
02/28 Personal Consumption 08:30 4Q S 2.9% - 3.3% -
  02/28     Pending Home Sales MoM 10:00 January 1.5% - -8.7% -

 

 
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