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Strong in The AM, Weaker in The PM
Strong in The AM, Weaker in The PM
Bonds improved fairly steadily in the AM hours. After an initial glut of buying demand in the first hour of trading, there was a linear trend channel to the best level of the day right at noon ET. After that, a similarly linear trend took bonds back toward (but not into) weaker territory. None of the above occurred outside a range that we'd consider anything other than uneventful. Overseas data and trading likely helped play a role in the ebb and flow. The 3yr Treasury auction didn't have a big impact, but concession-building for tomorrow's 10yr auction could have contributed to the afternoon weakness.
Strong in The AM, Weaker in The PM
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, May 08 | |||||
| 7:00AM | May/03 MBA 30-yr mortgage rate (%) | May/03 | 7.18% | 7.29% | |
| 7:00AM | May/03 MBA Mortgage Applications | May/03 | 2.6% | -2.3% | |
| 7:00AM | May/03 MBA Refi Index | May/03 | 477.5 | 456.9 | |
| 7:00AM | May/03 Mortgage Market Index | May/03 | 197.1 | 192.1 | |
| 7:00AM | May/03 MBA Purchase Index | May/03 | 144.2 | 141.7 | |
| 10:00AM | Mar Wholesale inventories mm (%) | Mar | -0.4% | -0.4% | 0.5% |
| 10:30AM | May/03 EIA Heating Oil Stocks Change | May/03 | 0.285M | -0.179M | |
| 10:30AM | May/03 EIA Gasoline Stocks Change | May/03 | 0.915M | -1.18M | 0.344M |
| 10:30AM | May/03 EIA Refinery Crude Runs Change | May/03 | 0.307M | -0.23M | |
| 10:30AM | May/03 EIA Crude Oil Imports Change | May/03 | -0.353M | 1.536M | |
| 10:30AM | May/03 Crude Oil Inventory (ml) | May/03 | -1.361M | -1.43M | 7.265M |
| 10:30AM | May/03 EIA Cushing Crude Oil Stocks Change | May/03 | 1.88M | 1.089M | |
| 10:30AM | May/03 EIA Distillate Fuel Production Change | May/03 | 0.275M | -0.271M | |
| 10:30AM | May/03 EIA Distillate Stocks Change | May/03 | 0.56M | -1.0M | -0.732M |
| 10:30AM | May/03 EIA Gasoline Production Change | May/03 | 0.099M | 0.254M | |
| 11:00AM | Fed Jefferson Speech | ||||
| 11:30AM | 17-Week Bill Auction (%) | 5.240% | 5.245% | ||
| 11:45AM | Fed Collins Speech | ||||
| 1:00PM | 10-Year Note Auction | 4.483% | 4.560% | ||
| 1:00PM | 10-yr Note Auction (bl) | 42 | |||
| 1:30PM | Fed Cook Speech | ||||
| Thursday, May 09 | |||||
| 8:30AM | May/04 Jobless claims 4-wk avg (k) | May/04 | 215K | 210K | |
| 8:30AM | May/04 Jobless Claims (k) | May/04 | 231K | 210K | 208K |
| 8:30AM | Apr/27 Continued Claims (ml) | Apr/27 | 1785K | 1790K | 1774K |
| 10:30AM | May/03 Nat gas-EIA, change bcf | May/03 | 79Bcf | 87Bcf | 59Bcf |
| 11:30AM | 4-Week Bill Auction | 5.270% | 5.275% | ||
| 11:30AM | 8-Week Bill Auction | 5.275% | 5.270% | ||
| 12:00PM | May/08 30-Year Mortgage Rate | May/08 | 7.09% | 7.22% | |
| 12:00PM | May/08 15-Year Mortgage Rate | May/08 | 6.38% | 6.47% | |
| 1:00PM | 30-Year Bond Auction | 4.635% | 4.671% | ||
| 1:00PM | 30-Yr Bond Auction (bl) | 25 | |||
| 2:00PM | Fed Daly Speech | ||||
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