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Steady Gains Throughout The Day
Steady Gains Throughout The Day
Bonds began the day in modestly weaker territory although MBS were fairly quick to get back to 'unchanged' while 10yr Treasuries couldn't duplicate that feat until the afternoon. There were no clear correlations with other markets and no notable risks on the econ calendar. The gains were slow and steady enough to suggest an absence of discrete catalysts. That could change on Wednesday with the confluence of ADP and ISM Services--both capable of influencing the bond market, even before the shutdown data dynamics temporarily magnified private data's importance.
Weaker start, but bouncing back a bit now. MBS up 2 ticks (.06) and 10yr yield up 1bp at 4.098
Best levels of the day with MBS up 3 ticks (.09) and 10yr up only half a bp at 4.092
Just a bit stronger. MBS up 5 ticks (.16) and 10yr down 0.1bps at 4.087
Steady Gains Throughout The Day
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Dec 03 | |||||
| 7:00AM | Nov/28 Mortgage Market Index | Nov/28 | 317.6 | ||
| 7:00AM | Nov/28 MBA Refi Index | Nov/28 | 1090.4 | ||
| 7:00AM | Nov/28 MBA Purchase Index | Nov/28 | 181.6 | ||
| 8:15AM | Nov ADP jobs (k) | Nov | 5K | 42K | |
| 8:30AM | Sep Import prices mm (%) | Sep | 0.1% | 0.3% | |
| 8:30AM | Sep Export prices mm (%) | Sep | 0.1% | 0.3% | |
| 9:15AM | Sep Industrial Production (%) | Sep | 0% | 0.1% | |
| 9:45AM | Nov S&P Global Services PMI | Nov | 55.0 | 54.8 | |
| 9:45AM | Nov S&P Global Composite PMI | Nov | 54.8 | 54.6 | |
| 10:00AM | Nov ISM N-Mfg PMI | Nov | 52.1 | 52.4 | |
| 10:00AM | Nov ISM Services New Orders | Nov | 56.2 | ||
| 10:00AM | Nov ISM Services Prices | Nov | 70.0 | ||
| 10:00AM | Nov ISM Biz Activity | Nov | 54.3 | ||
| 10:00AM | Nov ISM Services Employment | Nov | 48.2 | ||
| 10:30AM | Nov/28 Crude Oil Inventory (ml) | Nov/28 | -1.9M | 2.774M | |
| Thursday, Dec 04 | |||||
| 7:30AM | Nov Challenger layoffs (k) | Nov | 153.074K | ||
| 8:30AM | Sep Trade Gap (on hold, shutdown) (bl) | Sep | $-65.5B | $-59.6B | |
| 8:30AM | Oct Trade Gap (on hold, shutdown) (bl) | Oct | |||
| 8:30AM | Nov/22 Continued Claims (k) | Nov/22 | 1960K | 1960K | |
| 8:30AM | Nov/29 Jobless Claims (k) | Nov/29 | 220K | 216K | |
| 12:00PM | Fed Bowman Speech | ||||
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