Bonds Unfazed by Econ Data
Bonds Unfazed by Econ Data
If you had to guess at the bond market's response this morning based solely on the outcome of the 8:30am economic data, you'd be very well justified in assuming some selling/weakness. While that may have been the case for a few moments, it was quickly replaced by bond buying as traders parsed the Retail Sales internals, revisions, and especially the inflation-adjusted spending implications. In a nutshell, the report showed an ongoing downtrend in discretionary consumer spending and that ended up being the trade of the day--even if it wasn't a super huge trade. This was enough to keep bonds in positive territory for most of the day, despite an afternoon correction back to unchanged levels.
Bonds Unfazed by Econ Data
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Jul 18 | |||||
| 12:00AM | Roll Date - Ginnie Mae 30YR | ||||
| 8:30AM | Jun Building Permits (ml) | Jun | 1.39M | 1.394M | |
| 8:30AM | Jun Housing starts number mm (ml) | Jun | 1.30M | 1.256M | |
| 10:00AM | Jul Sentiment: 1y Inflation (%) | Jul | 5% | ||
| 10:00AM | Jul Sentiment: 5y Inflation (%) | Jul | 4% | ||
| 10:00AM | Jul U Mich conditions | Jul | 63.9 | 64.8 | |
| 10:00AM | Jul Consumer Sentiment (ip) | Jul | 61.5 | 60.7 | |
| Monday, Jul 21 | |||||
| 10:00AM | Jun CB Leading Index MoM (%) | Jun | -0.1% | -0.1% | |
