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Bonds End Almost Perfectly Flat
Bonds End Almost Perfectly Flat
There are two kinds of rate/bond watchers today: those who tuned in late in the day to see bonds almost perfectly unchanged and those who were tuned in through the mild volatility this morning. The former group would simply shrug and go back to whatever it was they were doing while the latter might be frustrated to see bonds losing ground on a morning where inflation came in lower than expected. For the frustrated crowd, this was the plan for today--the asymmetric risk discussed yesterday. A decent result was never likely to help bonds. The subsequent weakness was driven by other factors, not CPI (risk-on trading and a series of tariff headlines from China). Even then, unchanged is unchanged.
Bonds End Almost Perfectly Flat
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, May 14 | |||||
| 12:00AM | Roll Date - UMBS 15YR, Ginnie Mae 15YR | ||||
| 5:15AM | Fed Waller Speech | ||||
| 7:00AM | May/09 MBA Purchase Index | May/09 | 166.5 | 162.8 | |
| 7:00AM | May/09 MBA Refi Index | May/09 | 718.1 | 721 | |
| 9:10AM | Fed Jefferson Speech | ||||
| 10:30AM | May/09 Crude Oil Inventory (ml) | May/09 | -1M | -2.032M | |
| 5:40PM | Fed Daly Speech | ||||
| Thursday, May 15 | |||||
| 8:30AM | Apr Core Producer Prices MM (%) | Apr | 0.3% | -0.1% | |
| 8:30AM | Apr Core Producer Prices YY (%) | Apr | 3.1% | 3.3% | |
| 8:30AM | May NY Fed Manufacturing | May | -10 | -8.10 | |
| 8:30AM | May/10 Jobless Claims (k) | May/10 | 229K | 228K | |
| 8:30AM | May/03 Continued Claims (ml) | May/03 | 1890K | 1879K | |
| 8:30AM | Apr Producer Prices (%) | Apr | 0.2% | -0.4% | |
| 8:30AM | May Philly Fed Prices Paid | May | 51.00 | ||
| 8:30AM | May Philly Fed Business Index | May | -11 | -26.4 | |
| 8:30AM | Apr Retail Sales Control Group MoM | Apr | 0.3% | 0.4% | |
| 8:30AM | Apr Retail Sales (%) | Apr | 0% | 1.5% | |
| 8:30AM | Apr Retail Sales (ex-autos) (%) | Apr | 0.3% | 0.6% | |
| 8:40AM | Fed Chair Powell Speech | ||||
| 9:15AM | Apr Industrial Production (%) | Apr | 0.2% | -0.3% | |
| 10:00AM | Mar Business Inventories (% ) | Mar | 0.2% | 0.2% | |
| 10:00AM | May NAHB housing market indx | May | 40 | 40 | |
| 12:00PM | NOPA Crush Report (%) | ||||
| 2:05PM | Fed Barr Speech | ||||
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