- Job Openings (lower = better for rates)
- 8.14m vs 7.91m f'cast, 7.919m prev
- Job "Quits" (lower = better for rates)
- 3.459m vs 3.452m prev
Bonds were modestly stronger overnight and had been trending slightly lower in yield between 8am and 10am ET. Comments from Fed Chair Powell at the SINTRA conference haven't made any major waves (i.e. inflation progress is good, but they need just a bit more confidence), etc.).
The job openings data has been a fairly reliable market mover recently and today's is no exception. Despite rising only modestly from the previous reading, bonds have given up all of the gains of the past 2 hours.
That leaves 10yr yields down 1.6bps on the day at 4.447 after being as low as 4.412.
MBS are still up 3 ticks (.09) but down an eighth of a point from the highs.
