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Uneventful Friday Ahead of Holiday-Shortened Week
Uneventful Friday Ahead of Holiday-Shortened Week
Bonds held their ground on Friday, but required some help from weaker economic data to do so. Compared to the past 2 sessions, volatility was much lower and losses may not have been too severe, even without the data. Taken together, the past 3 days illustrate just how desperate the market is for actionable econ data. The incoming week is once again sparse in that regard. It will also be punctuated by a rare mid-week holiday on Tuesday. One side effect of that holiday is that it pushes the 3yr Treasury auction forward to Monday--something that may have added slightly to the early selling in bonds today.
Calm overnight session and a flat start. MBS up 1 tick (.03) and 10yr up 0.3bps at 4.088.
Flat at strongest levels. MBS up 1 tick (.03) and 10yr down 1.3bps at 4.072
Still little changed. MBS are perfectly flat and 10yr yields are less than half a bp higher at 4.089
Uneventful Friday Ahead of Holiday-Shortened Week
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Nov 07 | |||||
| 3:00AM | Fed Williams Speech | ||||
| 7:00AM | Fed Jefferson Speech | ||||
| 10:00AM | Nov Sentiment: 1y Inflation (%) | Nov | 4.7% | 4.6% | |
| 10:00AM | Nov U Mich conditions | Nov | 52.3 | 59.2 | 58.6 |
| 10:00AM | Nov Sentiment: 5y Inflation (%) | Nov | 3.6% | 3.9% | |
| 10:00AM | Nov Consumer Sentiment (ip) | Nov | 50.3 | 53.2 | 53.6 |
| 11:00AM | Oct Consumer Inflation Expectations | Oct | 3.2% | 3.4% | |
| 3:00PM | Sep Consumer credit (bl) | Sep | $13.09B | $10B | $0.36B |
| 3:00PM | Fed Miran Speech | ||||
| Monday, Nov 10 | |||||
| 12:00PM | WASDE Report (%) | ||||
| 12:00PM | WASDE Report (%) | ||||
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
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