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Slow Burn With Little to Blame
Slow Burn With Little to Blame
Bonds started out sideways and lost a minimal amount of ground very gradually throughout the day. While there were multiple Fed speakers on tap, none of the comments garnered any clear reaction. In terms of timing, the losses only really line up with the start of the 9:30am NYSE open--something that can sometimes create tradeflow dynamics that impact bonds--especially when we're only talking about the sort of modest move seen today.
Slightly weaker after opening flat. UMBS down 3 ticks (.09) and 10yr up 1bp at 4.136
10yr yields are up almost 2bps at 4.415 and MBS are down 6 ticks (.19) on the day
Slow Burn With Little to Blame
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Sep 22 | |||||
| 9:45AM | Fed Williams Speech | ||||
| 10:00AM | Fed Musalem Speech | ||||
| 12:00PM | Fed Hammack Speech | ||||
| 12:00PM | Fed Barkin Speech | ||||
| 12:00PM | Fed Miran Speech | ||||
| 8:00PM | UN General Assembly (%) | ||||
| Tuesday, Sep 23 | |||||
| 9:00AM | Fed Bowman Speech | ||||
| 9:45AM | Sep S&P Global Services PMI | Sep | 53.9 | 54.5 | |
| 9:45AM | Sep S&P Global Manuf. PMI | Sep | 52 | 53.0 | |
| 9:45AM | Sep S&P Global Composite PMI | Sep | 54.6 | 55.1 | |
| 10:00AM | Fed Bostic Speech | ||||
| 12:35PM | Fed Chair Powell Speech | ||||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| 8:00PM | UN General Assembly (%) | ||||
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