|
Another Hawkish Powell Press Conference Harshes Bonds' Mellow
Another Hawkish Powell Press Conference Harshes Bonds' Mellow
The Fed cut rates and ended QT. Neither were surprises for markets and neither had an impact. The press conference was hawkish, however, with Powell saying a December cut was far from a foregone conclusion. This is very much counter to the market's expectation that a December cut was a lock. Fed Funds Futures tanked and yields surged about 8bps in the 10yr. MBS lost about 3/8ths and negative reprices continue to roll in.
Another Hawkish Powell Press Conference Harshes Bonds' Mellow
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Oct 30 | |||||
| 8:30AM | Oct/11 Continued Claims (on hold, shutdown) (k) | Oct/11 | 1930K | ||
| 8:30AM | Oct/18 Jobless Claims (on hold, shutdown) (k) | Oct/18 | 223K | ||
| 8:30AM | Q3 GDP deflator (%) | Q3 | 2.8% | 2.1% | |
| 8:30AM | Q3 GDP (on hold, shutdown) (%) | Q3 | 3% | 3.8% | |
| 8:30AM | Q3 GDP Final Sales (%) | Q3 | 7.5% | ||
| 8:30AM | Oct/25 Jobless Claims (on hold, shutdown) (k) | Oct/25 | |||
| 8:30AM | Q3 Core PCE Prices QoQ (on hold, shutdown) | Q3 | 2.9% | 2.6% | |
| 8:30AM | Oct/18 Continued Claims (on hold, shutdown) (k) | Oct/18 | |||
| 9:55AM | Fed Bowman Speech | ||||
| 10:30AM | NY Fed Treasury Purchases TIPS 7.5 to 30 yrs (%) | $25 million | |||
| 1:15PM | Fed Logan Speech | ||||
| Friday, Oct 31 | |||||
| 8:30AM | Sep Core PCE Inflation (y/y) (on hold due to shutdown) (%) | Sep | 2.9% | ||
| 8:30AM | Q3 Employment costs (on hold due to shutdown) (%) | Q3 | 0.9% | 0.9% | |
| 8:30AM | Sep Personal Income (%) | Sep | 0.4% | 0.4% | |
| 8:30AM | Sep Inflation-Adjusted Spending (Consumption) (%) | Sep | 0.4% | 0.6% | |
| 8:30AM | Sep Core PCE (m/m) (on hold due to shutdown) (%) | Sep | 0.2% | 0.2% | |
| 9:30AM | Fed Logan Speech | ||||
| 9:45AM | Oct Chicago PMI | Oct | 42.3 | 40.6 | |
| 12:00PM | Fed Bostic Speech | ||||
| 12:00PM | Fed Hammack Speech | ||||
|
|