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Slow, Steady Gains Continue
Slow, Steady Gains Continue
Perhaps the absence of big-ticket econ data has left bond traders to ponder a reality that they see as economically challenging. Perhaps non-gov reports like today's Philly Fed services index are contributing to those assumptions. Perhaps other indicators like oil, forex, etc. are exerting some influence. Or perhaps this is the tail end of a short-term repricing driven by last week's banking concerns or Fed balance sheet expectations. Either way, volume was light and gains were modest as yields push their lowest levels in more than a year.
Slow, Steady Gains Continue
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Oct 21 | |||||
| 9:00AM | Fed Waller Speech | ||||
| 10:30AM | NY Fed Treasury Purchases 1 to 2.5 yrs (%) | $75 million | |||
| 3:30PM | Fed Waller Speech | ||||
| Wednesday, Oct 22 | |||||
| 7:00AM | Oct/17 Mortgage Market Index | Oct/17 | 317.2 | ||
| 7:00AM | Oct/17 MBA Refi Index | Oct/17 | 1168.0 | ||
| 7:00AM | Oct/17 MBA Purchase Index | Oct/17 | 166.0 | ||
| 10:30AM | Oct/17 Crude Oil Inventory (ml) | Oct/17 | 2.2M | 3.524M | |
| 1:00PM | 20-Yr Bond Auction (bl) | 13 | |||
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