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Traders Buy The Dip After AM Data
Traders Buy The Dip After AM Data
After a bit of overnight strength and an early morning pull-back, bonds were right in line with yesterday afternoon's levels ahead of the 10am data. JOLTS (job openings) pushed yields back to yesterday's highs--perhaps with some help from the Senate's passage of the spending bill, but at that point, traders bought the dip in bond prices and pushed back into the day's range. It wasn't enough to get back to positive territory, but it made the day less of an obvious turning point in the bigger-picture. Perhaps a better way to say it would be that bonds still look open-minded when it comes to responding to Thursday's jobs report and next week's CPI.
Traders Buy The Dip After AM Data
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Jul 02 | |||||
| 7:00AM | Jun/27 MBA Purchase Index | Jun/27 | 165.3 | 165.2 | |
| 7:00AM | Jun/27 MBA Refi Index | Jun/27 | 759.7 | 713.4 | |
| 7:30AM | Jun Challenger layoffs (k) | Jun | 47.999K | 93.816K | |
| 8:15AM | Jun ADP jobs (k) | Jun | -33K | 95K | 37K |
| 10:30AM | Jun/27 Crude Oil Inventory (ml) | Jun/27 | 3.845M | -2M | -5.836M |
| Thursday, Jul 03 | |||||
| 8:30AM | Jun Average earnings mm (%) | Jun | 0.2% | 0.3% | 0.4% |
| 8:30AM | May Trade Gap (bl) | May | $-71.5B | $-71B | $-61.6B |
| 8:30AM | Jun/21 Continued Claims (ml) | Jun/21 | 1964K | 1960K | 1974K |
| 8:30AM | Jun Non Farm Payrolls (k) | Jun | 147K | 110K | 139K |
| 8:30AM | Jun/28 Jobless Claims (k) | Jun/28 | 233K | 240K | 236K |
| 8:30AM | Jun Unemployment rate mm (%) | Jun | 4.1% | 4.3% | 4.2% |
| 8:30AM | Jun Participation Rate | Jun | 62.3% | 62.4% | |
| 9:45AM | Jun S&P Global Services PMI | Jun | 52.9 | 53.1 | 53.7 |
| 9:45AM | Jun S&P Global Composite PMI | Jun | 52.9 | 52.8 | 53 |
| 10:00AM | May Factory orders mm (%) | May | 8.2% | 8.2% | -3.7% |
| 10:00AM | Jun ISM Biz Activity | Jun | 54.2 | 50.0 | |
| 10:00AM | Jun ISM Services Prices | Jun | 67.5 | 68.7 | |
| 10:00AM | Jun ISM Services Employment | Jun | 47.2 | 50.7 | |
| 10:00AM | Jun ISM N-Mfg PMI | Jun | 50.8 | 50.5 | 49.9 |
| 11:00AM | Fed Bostic Speech | ||||
| 2:00PM | Happy 4th!! | ||||
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