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Absence Makes the Bonds Grow Stronger
Absence Makes the Bonds Grow Stronger
Bonds improved at a moderate pace for the 2nd day in a row, thus marking the first sustained push back against the recent rate spike. The gains are notable because they are not being driven by any big, new developments on the trade/tariff front. Instead, it is the absence of any such developments that is allowing the market to get back into a relatively calmer groove. That said, we wouldn't take the calm for granted. Bonds have merely moved back to more nimble territory as we wait for more policy clarity.
Absence Makes Bonds Grow Stronger
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Apr 16 | |||||
| 7:00AM | Apr/11 MBA Purchase Index | Apr/11 | 164.2 | 172.7 | |
| 7:00AM | Apr/11 MBA Refi Index | Apr/11 | 841.9 | 961.4 | |
| 8:30AM | Mar Retail Sales (ex-autos) (%) | Mar | 0.5% | 0.3% | 0.3% |
| 8:30AM | Mar Retail Sales (%) | Mar | 1.4% | 1.3% | 0.2% |
| 8:30AM | Mar Retail Sales Control Group MoM | Mar | 0.4% | 0.6% | 1% |
| 9:15AM | Mar Industrial Production (%) | Mar | -0.3% | -0.2% | 0.7% |
| 10:00AM | Feb Business Inventories (% ) | Feb | 0.2% | 0.2% | 0.3% |
| 10:00AM | Apr NAHB housing market indx | Apr | 40 | 37 | 39 |
| 10:30AM | Apr/11 Crude Oil Inventory (ml) | Apr/11 | 0.515M | 0.4M | 2.553M |
| 11:30AM | 17-Week Bill Auction | 4.225% | 4.250% | ||
| 12:00PM | Fed Hammack Speech | ||||
| 1:00PM | 20-Yr Bond Auction (bl) | 13 | |||
| 1:30PM | Fed Chair Powell Speech | ||||
| 1:38PM | Powell Speech at Economic Club of Chicago | ||||
| 7:00PM | Fed Schmid Speech | ||||
| Thursday, Apr 17 | |||||
| 12:00AM | Roll Date - Ginnie Mae 30YR | ||||
| 8:30AM | Mar Housing starts number mm (ml) | Mar | 1.324M | 1.42M | 1.501M |
| 8:30AM | Apr/05 Continued Claims (ml) | Apr/05 | 1885K | 1870K | 1850K |
| 8:30AM | Mar Building Permits (ml) | Mar | 1.482M | 1.45M | 1.459M |
| 8:30AM | Apr Philly Fed Prices Paid | Apr | 51.00 | 48.30 | |
| 8:30AM | Apr Philly Fed Business Index | Apr | -26.4 | 2 | 12.5 |
| 8:30AM | Apr/12 Jobless Claims (k) | Apr/12 | 215K | 225K | 223K |
| 11:30AM | 5-Yr Note Auction (bl) | 25 | |||
| 11:45AM | Fed Barr Speech | ||||
| 2:00PM | Good Friday Eve | ||||
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