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Slightly Weaker Drift, But Broadly Uneventful
Slightly Weaker Drift, But Broadly Uneventful
Friday may as well have been a 4th weekend day for the bond market. Volume and liquidity were obviously in holiday mode. Trading levels were basically flat, although it might not feel that way if you're seeing MBS prices end the day down more than an eighth of a point. It's unclear whether we're seeing actual weakness at the end of the day or an incidental expression of extremely thin liquidity. Even if it's "real," it's still not bad considering where we were on Tuesday afternoon.
stronger overnight but giving up those gains in the past hour. MBS now unchanged and 10yr down half a bp at 4.609
Sideways at the lows. MBS down 1 tick (.03) and 10yr down half a bp at 4.608
Weakest levels of the day. MBS down an eighth of a point and 10yr up 0.4bps at 4.617
Slightly Weaker Drift, But Largely Uneventful
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Jan 17 | |||||
| 12:00AM | Roll Date - Ginnie Mae 30YR | ||||
| 8:30AM | Dec Building permits: number (ml) | Dec | 1.483M | 1.46M | 1.493M |
| 8:30AM | Dec Build permits: change mm (%) | Dec | -0.7% | 5.2% | |
| 8:30AM | Dec House starts mm: change (%) | Dec | 15.8% | -1.8% | |
| 8:30AM | Dec Housing starts number mm (ml) | Dec | 1.499M | 1.32M | 1.289M |
| 9:15AM | Dec Industrial Production (%) | Dec | 0.9% | 0.3% | -0.1% |
| 9:15AM | Dec Industrial Production YoY | Dec | 0.5% | -0.9% | |
| 9:15AM | Dec Manufacturing Production MoM | Dec | 0.6% | 0.2% | 0.2% |
| 9:15AM | Dec Manufacturing Production YoY | Dec | 0% | -1% | |
| 9:15AM | Dec Capacity Utilization (%) | Dec | 77.6% | 77% | 76.8% |
| 1:00PM | Jan/17 Baker Hughes Total Rig Count | Jan/17 | 580 | 584 | |
| 1:00PM | Jan/17 Baker Hughes Oil Rig Count | Jan/17 | 478 | 480 | |
| 4:00PM | Nov Foreign Buying, Bonds (TIC Data) (bl) | Nov | $-15.8B | $92.1B | |
| 4:00PM | Nov Overall net capital flows (TIC Data) (bl) | Nov | $159.9B | $203.6B | |
| 4:00PM | Nov Net Long-Term Flows, excluding swaps (TIC data) (bl) | Nov | $79B | $159.9B | $152.3B |
| Monday, Jan 20 | |||||
| 12:00AM | Martin Luther King Jr. Day | ||||
| 12:00PM | Inauguration Day (%) | ||||
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