Bonds Boosted by Data and Well-Received Auction
Bonds Boosted by Data and Well-Received Auction
Jobless Claims data doesn't normally move the market, but it did this morning, even if only by a bit. It was enough to turn modest losses into modest gains ahead of the afternoon's 30yr bond auction. Here too, hopes were not high for a big reaction. After all, there was no real reaction to yesterday's 10yr auction. But things were different this time as traders bid more aggressively for the longer duration. With that, we had two modest-but-noticeable rallies that left trading levels right in line with this week's range after starting out at the highest yields of the week.
Data and Auction Help Turn Losses Into Gains
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, May 10 | |||||
| 12:00AM | Roll Date - UMBS 30YR | ||||
| 9:00AM | Fed Bowman Speech | ||||
| 10:00AM | May U Mich conditions | May | 68.8 | 79.0 | 79 |
| 10:00AM | May Consumer Sentiment (ip) | May | 67.4 | 76 | 77.2 |
| 10:00AM | May Sentiment: 5y Inflation (%) | May | 3.1% | 3% | |
| 10:00AM | May Michigan Consumer Expectations Final | May | 66.5 | 75 | 76 |
| 10:00AM | May Sentiment: 1y Inflation (%) | May | 3.5% | 3.2% | 3.2% |
| 10:00AM | Fed Kashkari Speech | ||||
| 12:00PM | WASDE Report (%) | ||||
| 12:45PM | Fed Goolsbee Speech | ||||
| 1:00PM | May/10 Baker Hughes Total Rig Count | May/10 | 603 | 605 | |
| 1:00PM | May/10 Baker Hughes Oil Rig Count | May/10 | 496 | 499 | |
| 1:30PM | Fed Barr Speech | ||||
| 2:00PM | Apr Federal budget, $ (bl) | Apr | $210B | $244.5B | $-236B |
| Monday, May 13 | |||||
| 9:00AM | Fed Mester Speech | ||||
| 9:00AM | Fed Jefferson Speech | ||||
| 11:00AM | Apr Consumer Inflation Expectations | Apr | 3.3% | 3% | |
| 11:30AM | 26-Week Bill Auction (bl) | 70 | |||
| 11:30AM | 6-Month Bill Auction | 5.165% | 5.155% | ||
| 11:30AM | 3-Month Bill Auction | 5.250% | 5.250% | ||
| 11:30AM | 26-Week Bill Auction (bl) | 70 | |||
