Stocks Save Bonds From Modest Losses
Stocks Save Bonds From Modest Losses
You won't always be able to count on the market dynamics we've seen over the past few weeks, but during that time, they've been pretty reliable. Specifically, steep losses in stocks have been helping the bond market more often than not, and today was another example. Bonds started out in slightly weaker territory after the PPI data suggested higher PCE inflation. PCE doesn't come out for 2 weeks, and PPI's top line numbers were good, but markets care more about PCE, hence the paradoxical reaction. Stocks began swooning in earnest in the 11am hour, and bond yields followed suit. After topping out at 4.35%, 10yr yields fell to 4.25+ before leveling off.
Saved By Stocks Again
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Mar 14 | |||||
| 10:00AM | Mar Consumer Sentiment (ip) | Mar | 57.9 | 63.1 | 64.7 |
| 10:00AM | Mar Sentiment: 5y Inflation (%) | Mar | 3.9% | 3.5% | |
| 10:00AM | Mar U Mich conditions | Mar | 63.5 | 65 | 65.7 |
| 10:00AM | Mar Sentiment: 1y Inflation (%) | Mar | 4.9% | 4.3% | |
| Monday, Mar 17 | |||||
| 12:00AM | Roll Date - UMBS 15YR, Ginnie Mae 15YR | ||||
| 8:30AM | Feb Retail Sales Control Group MoM | Feb | 1% | 0.2% | -0.8% |
| 8:30AM | Feb Retail Sales (%) | Feb | 0.2% | 0.6% | -0.9% |
| 8:30AM | Mar NY Fed Manufacturing | Mar | -20 | -0.75 | 5.7 |
| 8:30AM | Feb Retail Sales (ex-autos) (%) | Feb | 0.3% | 0.4% | -0.4% |
| 10:00AM | Jan Business Inventories (% ) | Jan | 0.3% | 0.3% | -0.2% |
| 10:00AM | Mar NAHB housing market indx | Mar | 39 | 42 | 42 |
| 12:00PM | NOPA Crush Report (%) | ||||
