Bonds Recovering a Bit After "Framework of a Deal" on Greenland
Bonds Recovering a Bit After "Framework of a Deal" on Greenland
Geopolitics have been front and center for financial markets over the past 2 days with both stocks and bonds taking clear cues from newswires pertaining to tariff brinksmanship, trade deal negotiations, foreign wealth fund participation, and ultimately, the late-day announcement of a "framework of a deal" regarding Greenland. Details are in short supply, but the most important development being a pause on the plan to implement new tariffs on February 1st. Markets are cautiously trading this as a win for now with stocks and bonds at the best levels of the week, but definitely not back in line with last week's levels.
Modestly weaker overnight and no reaction to AM data so far. MBS down an eighth and 10yr up 1.7bps at 4.258
Bonds Recovering a Bit After Framework of a Deal on Greenland
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Jan 22 | |||||
| 8:30AM | Q3 GDP Final Sales (%) | Q3 | 4.5% | 4.6% | 7.5% |
| 8:30AM | Q3 PCE Prices (Q/Q) | Q3 | 2.8% | 2.8% | 2.1% |
| 8:30AM | Q3 GDP (%) | Q3 | 4.4% | 4.3% | 3.8% |
| 8:30AM | Jan/10 Continued Claims (k) | Jan/10 | 1849K | 1884K | |
| 8:30AM | Jan/17 Jobless Claims (k) | Jan/17 | 200K | 212K | 198K |
| 10:00AM | Oct Core PCE (y/y) (%) | Oct | 2.7% | 2.7% | 2.8% |
| 10:00AM | Oct Core PCE (m/m) (%) | Oct | 0.2% | 0.2% | 0.2% |
| 10:00AM | Oct PCE (y/y) (%) | Oct | 2.7% | 2.8% | |
| 10:00AM | Oct PCE prices (m/m) (%) | Oct | 0.2% | 0.2% | 0.3% |
| 10:00AM | Nov Core PCE (y/y) (%) | Nov | 2.8% | 2.8% | 2.7% |
| 12:00PM | Jan/16 Crude Oil Inventory (ml) | Jan/16 | 1.1M | 3.391M | |
| 1:00PM | 10-yr Note Auction (bl) | 21 | |||
| Friday, Jan 23 | |||||
| 9:45AM | Jan S&P Global Services PMI | Jan | 52.8 | 52.5 | |
| 9:45AM | Jan S&P Global Manuf. PMI | Jan | 52.1 | 51.8 | |
| 9:45AM | Jan S&P Global Composite PMI | Jan | 52.7 | ||
| 10:00AM | Oct CB Leading Index MoM (%) | Oct | -0.3% | ||
| 10:00AM | Nov CB Leading Index MoM (%) | Nov | |||
| 10:00AM | Jan Consumer Sentiment (ip) | Jan | 54.0 | 52.9 | |
| 10:00AM | Jan Sentiment: 1y Inflation (%) | Jan | 4.2% | 4.2% | |
| 10:00AM | Jan Sentiment: 5y Inflation (%) | Jan | 3.4% | 3.2% | |
| 10:00AM | Jan U Mich conditions | Jan | 52.4 | 50.4 | |
