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Best Closing Levels in More Than a Month
Best Closing Levels in More Than a Month
Don't look now, but rates just inched their way down to the best levels since the first week of May. It's probably NOT fair to credit geopolitical developments for the bond market improvement. While those developments arguably had an impact at times during the day, they were also arguably a zero sum game by the end of the day (due to a rapid de-escalation of armed conflict). What's left over is the improvement seen earlier in the day due to the shift in Fed Funds Rate expectations after comments from Bowman. This no doubt increases the market's anticipation for Fed Chair Powell's congressional testimony over the next two days.
Best Closing Levels in More Than a Month
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Jun 24 | |||||
| 9:00AM | Apr FHFA Home Price Index m/m (%) | Apr | -0.4% | 0.1% | -0.1% |
| 9:00AM | Apr CaseShiller 20 mm nsa (%) | Apr | 0.8% | 1.1% | |
| 9:00AM | Apr FHFA Home Prices y/y (%) | Apr | 3% | 3.7% | |
| 9:00AM | Apr Case Shiller Home Prices-20 y/y (% ) | Apr | 3.4% | 4% | 4.1% |
| 9:15AM | Fed Hammack Speech | ||||
| 10:00AM | Jun CB Consumer Confidence (%) | Jun | 93 | 100 | 98.0 |
| 10:00AM | Fed Chair Powell Testimony | ||||
| 10:00AM | Powell Testimony | ||||
| 12:30PM | Fed Williams Speech | ||||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| 1:45PM | Fed Kashkari Speech | ||||
| 2:05PM | Fed Collins Speech | ||||
| 4:00PM | Fed Barr Speech | ||||
| 8:15PM | Fed Schmid Speech | ||||
| Wednesday, Jun 25 | |||||
| 7:00AM | Jun/20 MBA Refi Index | Jun/20 | 692.4 | ||
| 7:00AM | Jun/20 MBA Purchase Index | Jun/20 | 165.8 | ||
| 8:00AM | May Building Permits (ml) | May | 1.393M | 1.422M | |
| 10:00AM | May New Home Sales (%) (%) | May | 10.9% | ||
| 10:00AM | May New Home Sales (ml) | May | 0.69M | 0.743M | |
| 10:00AM | Fed Chair Powell Testimony | ||||
| 10:30AM | Jun/20 Crude Oil Inventory (ml) | Jun/20 | -0.6M | -11.473M | |
| 11:30AM | 2-Year FRN Auction (%) | 0.144% | |||
| 11:30AM | 2-Yr Note Auction (bl) | 28 | |||
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
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