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Opening Weaker Despite Israel/Iran Headlines
Opening Weaker Despite Israel/Iran Headlines
By 8pm last night, news of Israel's attack on Iran erased an entire week of stock market gains and pushed bond yields to the lowest levels in more than a month. Given the alarming nature of some of the headlines, it's only natural to assume that markets were only getting started with the "overnight trading makes no guarantees. Ultimately, with 10yr yields over 4.5% on Wednesday morning and under 4.40% right now, none of the volatility of the past 12 hours is worth over-analyzing. Yields have challenged last week's floor and look to be tabling the idea of a breakout until further review.
Thursday's Data Offered No Objection to Overnight Rally
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Jun 13 | |||||
| 10:00AM | Jun Sentiment: 1y Inflation (%) | Jun | 5.1% | 6.6% | |
| 10:00AM | Jun Sentiment: 5y Inflation (%) | Jun | 4.1% | 4.2% | |
| 10:00AM | Jun U Mich conditions | Jun | 63.7 | 59.4 | 58.9 |
| 10:00AM | Jun Consumer Sentiment (ip) | Jun | 60.5 | 53.5 | 52.2 |
| Monday, Jun 16 | |||||
| 8:30AM | Jun NY Fed Manufacturing | Jun | -6.7 | -9.2 | |
| 12:00PM | NOPA Crush Report (%) | ||||
| 1:00PM | 20-Yr Bond Auction (bl) | 13 | |||
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