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Bond Market in Holiday Mode
Bond Market in Holiday Mode
Holiday mode is impossible to clearly define when it comes to its impact on the bond market. We know it when we see it, and we saw it today. Bonds paid no attention to econ data no matter how much it may seem that the 10am Consumer Sentiment numbers had an impact. Movement was minimal and not visibly tied to any other motivation. And as we already discussed this morning, Japan's rate hike was a non-event. Holiday trading randomness will get worse over the next 2 weeks before it improves in early January.
modestly weaker overnight and holding sideways so far. MBS down 2 ticks (.06) and 10yr up 2bps at 4.16
Bond Market in Holiday Mode
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Dec 22 | |||||
| 9:20AM | NY Fed Bill Purchases 4 to 12 months (%) | $6.801 million | |||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| Tuesday, Dec 23 | |||||
| 8:15AM | ADP Employment Change Weekly | 16.25K | |||
| 8:30AM | Q3 Corporate profits (% ) | Q3 | 0.2% | ||
| 8:30AM | Q3 Core PCE Prices QoQ | Q3 | 2.9% | 2.6% | |
| 8:30AM | Oct Durable goods (%) | Oct | -1.5% | 0.5% | |
| 8:30AM | Oct Core CapEx (%) | Oct | 0.9% | ||
| 8:30AM | Q3 GDP (%) | Q3 | 3.2% | 3.8% | |
| 9:15AM | Oct Industrial Production (%) | Oct | 0.1% | 0.1% | |
| 10:00AM | Dec CB Consumer Confidence (%) | Dec | 92 | 88.7 | |
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
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