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Light Volatility After Initial Losses
Light Volatility After Initial Losses
The first day of the new month began with some potential excitement, albeit not the good kind. A corporate bond offering from Alphabet pushed yields quickly higher just before 8am. Lackluster results in the ISM Manufacturing data helped push back in the other direction, but only briefly. The rest of the day was spent with yields drifting sideways near the AM highs, ultimately making for the weakest close since October 9th, but only modestly worse than last Thursday.
modestly stronger overnight and holding gains so far. MBS up 2 ticks (.06) and 10yr down 1.4bps at 4.095
Light Volatility After Initial Losses
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Nov 04 | |||||
| 6:35AM | Fed Bowman Speech | ||||
| 8:30AM | Aug Trade Gap (on hold, shutdown) (bl) | Aug | $-60.4B | $-78.3B | |
| 8:30AM | Sep Trade Gap (on hold, shutdown) (bl) | Sep | |||
| 10:10AM | Nov IBD economic optimism | Nov | 43.9 | 48.1 | 48.3 |
| 10:30AM | NY Fed Treasury Purchases 10 to 22.5 yrs (%) | $50 million | |||
| Wednesday, Nov 05 | |||||
| 7:00AM | Oct/31 MBA Purchase Index | Oct/31 | 164.3 | ||
| 7:00AM | Oct/31 Mortgage Market Index | Oct/31 | 338.7 | ||
| 7:00AM | Oct/31 MBA Refi Index | Oct/31 | 1327.8 | ||
| 8:15AM | Oct ADP jobs (k) | Oct | 25K | -32K | |
| 9:45AM | Oct S&P Global Services PMI | Oct | 55.2 | 54.2 | |
| 9:45AM | Oct S&P Global Composite PMI | Oct | 54.8 | 53.9 | |
| 10:00AM | Oct ISM Services New Orders | Oct | 50.4 | ||
| 10:00AM | Oct ISM Biz Activity | Oct | 49.9 | ||
| 10:00AM | Oct ISM N-Mfg PMI | Oct | 50.8 | 50.0 | |
| 10:00AM | Oct ISM Services Employment | Oct | 47.2 | ||
| 10:00AM | Oct ISM Services Prices | Oct | 69.4 | ||
| 10:30AM | Oct/31 Crude Oil Inventory (ml) | Oct/31 | -6.858M | ||
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