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Yields Hug Multi-Week Lows After Powell Speech
Yields Hug Multi-Week Lows After Powell Speech
Bonds were remarkably resilient over the extended weekend given the moderate rebound in the stock market. As of Friday afternoon, yields and stocks swooned together in response to trade war escalation with China. Stocks recovered half those losses by 3pm, but were unchanged to slightly stronger. The morning hours suggested a modest sell-off, but buyers returned after Powell's speech. He didn't say anything that was obviously worth a rally, so perhaps it was the absence of hawkishness that helped.
Losing some ground after stronger open. MBS down 1 tick (.03) and 10yr up 0.2bps at 4.036.
Slightly stronger after Powell speech. MBS up 3 ticks (.09) and 10yr down 0.2bps at 4.031
Little-changed at the close with MBS up 3 ticks (.09) and 10yr yields down 0.4bps at 4.029
Yields Hug Multi-Week Lows After Powell Speech
| 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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