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One Of The Few Times We Can Say "Strong Red Start"
One Of The Few Times We Can Say "Strong Red Start"
Bonds are flashing red on the screen (depending on when you look), but even at their weakest levels of the morning, we'd still consider this a stronger start. Reason being: Friday afternoon's rally lasted 10 whole minutes right at the end of the session. Before that, 10yr yields were around 4.06 and 5.0 MBS were trading just under 99.5. Now this morning, 10yr yields are in the mid 4.03's and MBS are at 99.55--both easily stronger compared to the 4:50pm levels from Friday.
Losing some ground after stronger open. MBS down 1 tick (.03) and 10yr up 0.2bps at 4.036.
Markets Rocked by New Tariff Drama
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Oct 14 | |||||
| 6:00AM | Sep NFIB Business Optimism Index | Sep | 98.8 | 100.5 | 100.8 |
| 8:45AM | Fed Bowman Speech | ||||
| 12:20PM | Fed Chair Powell Speech | ||||
| 3:25PM | Fed Waller Speech | ||||
| 3:30PM | Fed Collins Speech | ||||
| Wednesday, Oct 15 | |||||
| 12:00AM | Roll Date - UMBS 15YR, Ginnie Mae 15YR | ||||
| 7:00AM | Oct/10 Mortgage Market Index | Oct/10 | 323.1 | ||
| 7:00AM | Oct/10 MBA Purchase Index | Oct/10 | 170.6 | ||
| 7:00AM | Oct/10 MBA Refi Index | Oct/10 | 1180.2 | ||
| 8:30AM | Oct NY Fed Manufacturing | Oct | -1.8 | -8.7 | |
| 12:00PM | NOPA Crush Report (%) | ||||
| 12:10PM | Fed Bostic Speech | ||||
| 12:30PM | Fed Miran Speech | ||||
| 1:00PM | Fed Waller Speech | ||||
| 2:00PM | Fed Beige Book | ||||
| 2:30PM | Fed Schmid Speech | ||||
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