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Fairly Quiet Monday Considering Last Week's Noise
Fairly Quiet Monday Considering Last Week's Noise
In last week's defense, it really wasn't that noisy, but Friday's Jackson Hole speech and subsequent bond rally made it seem like big things were happening. In actuality, bonds were simply getting back in line with the prevailing range that was carved out after the last jobs report and we'll probably be waiting for the next jobs report before that range is meaningfully challenged. Between now and then, what do you do if you're the bond market? Answer: have days like today with minimal movement and highs/lows that were easily contained by Friday's range (what traders refer to as "an inside day").
roughly unchanged overnight and mostly holding in early trading. MBS up 1 tick (.03) and 10yr up less than 1bp at 4.278
Fairly Quiet Monday
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Aug 26 | |||||
| 8:30AM | Jul Durable goods (%) | Jul | -2.8% | -4% | -9.3% |
| 8:30AM | Jul Core CapEx (%) | Jul | 1.1% | 0.2% | -0.7% |
| 8:30AM | Fed Barkin Speech | ||||
| 9:00AM | Jun FHFA Home Price Index m/m (%) | Jun | -0.2% | 0% | -0.2% |
| 9:00AM | Jun CaseShiller 20 mm nsa (%) | Jun | 0.0% | 0.4% | |
| 9:00AM | Jun FHFA Home Prices y/y (%) | Jun | 2.6% | 2.8% | |
| 9:00AM | Jun Case Shiller Home Prices-20 y/y (% ) | Jun | 2.1% | 2.1% | 2.8% |
| 10:00AM | Aug CB Consumer Confidence (%) | Aug | 97.4 | 96.2 | 97.2 |
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| Wednesday, Aug 27 | |||||
| 7:00AM | Aug/22 MBA Purchase Index | Aug/22 | 160.3 | ||
| 7:00AM | Aug/22 MBA Refi Index | Aug/22 | 926.1 | ||
| 10:30AM | Aug/22 Crude Oil Inventory (ml) | Aug/22 | -2M | -6.014M | |
| 11:30AM | 2-Yr Note Auction (bl) | 28 | |||
| 11:30AM | 2-Year FRN Auction (%) | 0.159% | |||
| 12:45PM | Fed Barkin Speech | ||||
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
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