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Uneventful Rally. Retail Sales on Deck
Uneventful Rally. Retail Sales on Deck
Bonds began the week on a stronger note, but not for any glaringly obvious reasons. The same was said about Friday's weakness, so perhaps we'll just call it a wash and assume that traders are getting into (or out of) position(s) ahead of this week's Fed Day. Thus morning's NY Fed Manufacturing data fit the rally narrative, but most of the gains were in place beforehand--not to mention the limited track record of impact from that report. Volumes were exceptionally light and volatility was exceptionally low after the initial gains in the AM. Tuesday's Retail Sales data is more capable of moving the needle.
Flat overnight with early, modest gains. MBS up 3 ticks (.09) and 10yr down 2.3bps at 4.043
Steady gains. MBS up 6 ticks (.19) and 10yr down 3.4bps at 4.033
Boring and green. MBS still up 6 ticks (.19) and 10yr down 2.6bps at 4.04
Uneventful Rally
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Sep 15 | |||||
| 8:30AM | Sep NY Fed Manufacturing | Sep | -8.70 | 5 | 11.90 |
| 12:00PM | NOPA Crush Report (%) | ||||
| Tuesday, Sep 16 | |||||
| 8:30AM | Aug Export prices mm (%) | Aug | -0.1% | 0.1% | |
| 8:30AM | Aug Retail Sales Control Group MoM | Aug | 0.4% | 0.5% | |
| 8:30AM | Aug Retail Sales (ex-autos) (%) | Aug | 0.4% | 0.3% | |
| 8:30AM | Aug Retail Sales (%) | Aug | 0.3% | 0.5% | |
| 8:30AM | Aug Import prices mm (%) | Aug | -0.2% | 0.4% | |
| 9:15AM | Aug Industrial Production (%) | Aug | -0.1% | -0.1% | |
| 10:00AM | Jul Business Inventories (% ) | Jul | 0.2% | 0.2% | |
| 10:00AM | Sep NAHB housing market indx | Sep | 33 | 32 | |
| 1:00PM | 20-Yr Bond Auction (bl) | 13 | |||
| 8:00PM | International Monetary Market (IMM) Date (%) | ||||
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