Incidental Weakness But No Big Picture Change
Incidental Weakness But No Big Picture Change
There were no economic reports on tap today and no obvious market moving headlines during the domestic session. The lighter volume and liquidity made the bond market more susceptible to random sources of inspiration in the overnight session. Political developments in Japan were thus able to have a larger impact than normal and, in this case, that impact was unfavorable for bonds. That said, the selling was ultimately moderate. Larger scale momentum requires an end to the shutdown (thus allowing things like the jobs report to be published).
weaker overnight with a modest recovery early. MBS down 1 tick (.03) and 10yr up 2.6bps at 4.143
Gradually weaker and now at the weakest levels of the day. MBS down 6 ticks (.19) and 10yr up 4.6bps at 4.164
Incidental Weakness But No Big Picture Change
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Oct 06 | |||||
| Tuesday, Oct 07 | |||||
| 8:30AM | Aug Trade Gap (on hold, shutdown) (bl) | Aug | $-60.4B | $-78.3B | |
| 10:00AM | Fed Bostic Speech | ||||
| 10:05AM | Fed Bowman Speech | ||||
| 10:10AM | Oct IBD economic optimism | Oct | 49.3 | 48.7 | |
| 10:30AM | Fed Miran Speech | ||||
| 11:00AM | Sep Consumer Inflation Expectations | Sep | 3.2% | ||
| 11:30AM | Fed Kashkari Speech | ||||
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
| 3:00PM | Aug Consumer credit (bl) | Aug | $14.0B | $16.01B | |
| 4:05PM | Fed Miran Speech | ||||
