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.
Slightly Weaker Drift, But Largely Uneventful
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Jan 21 | |||||
| 11:30AM | 26-Week Bill Auction (bl) | 84 | |||
| 11:30AM | 3-Month Bill Auction | 4.215% | 4.225% | ||
| 11:30AM | 6-Month Bill Auction | 4.165% | 4.180% | ||
| 11:30AM | 26-Week Bill Auction (bl) | 72 | |||
| 1:00PM | 26-Week Bill Auction (bl) | 85 | |||
| 1:00PM | 52-Week Bill Auction | 4.025% | 4.070% | ||
| 1:00PM | 52-Week Bill Auction (bl) | 48 | |||
| 1:00PM | 42-Day Bill Auction (%) | 4.250% | 4.210% | ||
| Wednesday, Jan 22 | |||||
| 7:00AM | Jan/17 Mortgage Market Index | Jan/17 | 224.4 | ||
| 7:00AM | Jan/17 MBA Refi Index | Jan/17 | 575.6 | ||
| 7:00AM | Jan/17 MBA Mortgage Applications | Jan/17 | 33.3% | ||
| 7:00AM | Jan/17 MBA 30-yr mortgage rate (%) | Jan/17 | 7.09% | ||
| 7:00AM | Jan/17 MBA Purchase Index | Jan/17 | 162 | ||
| 8:55AM | Jan/18 Redbook yy (%) | Jan/18 | 4% | ||
| 10:00AM | Dec CB Leading Index MoM (%) | Dec | 0% | 0.3% | |
| 11:30AM | 17-Week Bill Auction (%) | 4.210% | |||
| 1:00PM | 20-Yr Bond Auction (bl) | 13 | |||
| 1:00PM | 20-Year Bond Auction | 4.686% | |||
| 4:30PM | Jan/17 API weekly crude stocks (ml) | Jan/17 | -2.6M | ||
