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Mostly Sideways Despite Some Help From Europe
Mostly Sideways Despite Some Help From Europe
In addition to this week's holiday closure (early close Wednesday, fully closed Thursday), the econ calendar is also lacking in terms of potential sources of volatility. A majority of any meaningful momentum is most likely to come from month/quarter/year-end trading today and tomorrow, but think of that more like a caveat for any incidental movement rather than a prediction. Monday is off to an OK start with modest overnight gains driven by rally in EU bonds after their return from holiday. Treasuries gladly followed in the illiquid overnight hours, but have been less willing to do so now that the domestic session is underway.
Modestly stronger overnight and holding sideways so far. MBS up 2 ticks (.06) and 10yr down 1.6bps at 4.117
Bonds End Unchanged After Another Quiet Session
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Dec 29 | |||||
| 10:00AM | Nov Pending Home Sales (%) | Nov | 3.3% | 1% | 1.9% |
| 10:30AM | Dec/19 Crude Oil Inventory (ml) | Dec/19 | -2.4M | -1.274M | |
| Tuesday, Dec 30 | |||||
| 8:15AM | ADP Employment Change Weekly | ||||
| 9:00AM | Oct CaseShiller 20 mm nsa (%) | Oct | -0.5% | ||
| 9:00AM | Oct FHFA Home Price Index m/m (%) | Oct | 0.1% | 0% | |
| 9:00AM | Oct Case Shiller Home Prices-20 y/y (% ) | Oct | 1.1% | 1.4% | |
| 9:00AM | Oct FHFA Home Prices y/y (%) | Oct | 1.7% | ||
| 9:45AM | Dec Chicago PMI | Dec | 39.5 | 36.3 | |
| 2:00PM | FOMC Minutes | ||||
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