Correction Starting to Level Off?
Correction Starting to Level Off?
Even though very little changed during the course of the trading day, one potentially important thing happened. Rather than start weaker and continue to lose ground throughout the session, bonds managed to stop the bleeding early and then push back toward unchanged levels by the end of the day. This is the kind of thing typically seen when a corrective trend is running out of steam in the short term. While this doesn't make the bond market immune from another motivation to sell, it suggests that the market is now open to suggestion from either bulls or bears, and that's an upgrade from the selling bias seen on Monday.
Correction Starting to Level Off
Time | Event | Period | Actual | Forecast | Prior |
---|---|---|---|---|---|
Wednesday, Jul 09 | |||||
7:00AM | Jul/04 MBA Refi Index | Jul/04 | 829.3 | 759.7 | |
7:00AM | Jul/04 MBA Purchase Index | Jul/04 | 180.9 | 165.3 | |
10:00AM | May Wholesale inventories mm (%) | May | -0.3% | -0.3% | 0.1% |
10:30AM | Jul/04 Crude Oil Inventory (ml) | Jul/04 | 7.07M | -2M | 3.845M |
10:30AM | NY Fed Treasury Purchases Bill 0 to 1 yrs (%) | $75 million | |||
1:00PM | 10-yr Note Auction (bl) | 39 | |||
2:00PM | FOMC Minutes | ||||
Thursday, Jul 10 | |||||
8:30AM | Jul/05 Jobless Claims (k) | Jul/05 | 235K | 233K | |
8:30AM | Jun/28 Continued Claims (ml) | Jun/28 | 1980K | 1964K | |
10:00AM | Fed Musalem Speech | ||||
1:00PM | 30-Yr Bond Auction (bl) | 22 | |||
1:00PM | 30-Year Bond Auction | 4.844% | |||
1:15PM | Fed Waller Speech | ||||
2:30PM | Fed Daly Speech |