More Resilient Today, But It's Still All About Data
More Resilient Today, But It's Still All About Data
The bond market is still searching for its identity in the wake of last week's Fed announcement. Monday and Tuesday saw relatively big volatility in the morning with calmer, stronger afternoons--something that fueled hopes that the post-Fed correction was over. Wednesday saw overnight losses with more weakness throughout the day, thus suggesting the post-Fed correction could still be alive. Thursday had a bit of everything: gains overnight, early losses and a decent afternoon recovery. The only constant has been the ability of relevant econ data to set the trading tone.
Stronger overnight, weaker after data and now back near unchanged.
Back to weakest levels now. 10yr up 2.5bps at 3.81 and MBS down an eighth.
modest friendly bounce just before and after the 7yr auction (not necessarily because of it). 10yr up 1.2bps at 3.797 and MBS unchanged.
No major changes since the last update. MBS down 1 tick (0.03) and 10yr up 1bp at 3.794
More Resilient Today, But It's Still All About Data
Time | Event | Period | Actual | Forecast | Prior |
---|---|---|---|---|---|
Friday, Sep 27 | |||||
8:30AM | Aug Core PCE Inflation (y/y) (%) | Aug | 2.7% | 2.6% | |
8:30AM | Aug Goods Trade Balance Adv | Aug | $-99.4B | $-102.66B | |
8:30AM | Aug Personal Income (%) | Aug | 0.4% | 0.3% | |
8:30AM | Aug PCE (y/y) (%) | Aug | 2.3% | 2.5% | |
8:30AM | Aug Inflation-Adjusted Spending (Consumption) (%) | Aug | 0.3% | 0.5% | |
8:30AM | Aug PCE price index mm (%) | Aug | 0.1% | 0.2% | |
8:30AM | Aug Core PCE (m/m) (%) | Aug | 0.2% | 0.2% | |
8:30AM | Aug Wholesale inventories mm (%) | Aug | 0.2% | 0.2% | |
8:30AM | Aug Retail Inventories Ex Autos MoM Adv | Aug | 0.5% | ||
10:00AM | Sep Sentiment: 5y Inflation (%) | Sep | 3.1% | 3% | |
10:00AM | Sep Michigan Consumer Expectations Final | Sep | 73.0 | 72.1 | |
10:00AM | Sep Sentiment: 1y Inflation (%) | Sep | 2.7% | 2.8% | |
10:00AM | Sep Consumer Sentiment (ip) | Sep | 69.3 | 67.9 | |
10:00AM | Sep U Mich conditions | Sep | 62.9 | 61.3 | |
1:00PM | Sep/27 Baker Hughes Oil Rig Count | Sep/27 | 488 | ||
1:00PM | Sep/27 Baker Hughes Total Rig Count | Sep/27 | 588 | ||
Monday, Sep 30 | |||||
9:45AM | Sep Chicago PMI | Sep | 46.1 | ||
10:30AM | Sep Dallas Fed Manufacturing Index | Sep | -9.7 | ||
11:30AM | 26-Week Bill Auction (bl) | 79 | |||
11:30AM | 3-Month Bill Auction | 4.540% | |||
11:30AM | 6-Month Bill Auction | 4.270% | |||
11:30AM | 26-Week Bill Auction (bl) | 72 | |||
12:00PM | Sep Quarterly Grain Stocks - Corn | Sep | 4.993B | ||
12:00PM | Sep Quarterly Grain Stocks - Soy | Sep | 0.969B | ||
12:00PM | Sep Quarterly Grain Stocks - Wheat | Sep | 0.702B | ||
1:00PM | Fed Chair Powell Speech | ||||
1:00PM | Fed Chair Powell Speech |