Mostly Sideways to Start. Light Econ Calendar
Mostly Sideways to Start. Light Econ Calendar
Bonds rallied modestly in the overnight session. There were no notable spikes in volume or volatility--just a gradual grind that took 10yr yields roughly 2bps lower by 8am ET. Volume picked up at the 8:20am CME open (as it usually does) and this time it brought more sellers. The net effect is a return to unchanged levels, for the most part. There's some data on deck with S&P PMIs, Consumer Sentiment, and Leading Indicators, but not of these are top tier market movers. The rest of the day's momentum is more likely to be dictated by pre-weekend position squaring unless there's an unexpected geopolitical development.
Modestly stronger overnight, but gains erased at the open. MBS down 1 tick (.03) and 10yr up about half a bp at 4.248
Still mostly sideways. MBS unchanged and 10yr basically unchanged (up 0.3bps) at 4.245
Near weakest levels with MBS down 2 ticks (.06) and 10yr up 1.6bps at 4.258
Bonds Erase Most of The Overnight Weakness
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Jan 23 | |||||
| 9:45AM | Jan S&P Global Services PMI | Jan | 52.5 | 52.8 | 52.5 |
| 9:45AM | Jan S&P Global Manuf. PMI | Jan | 51.9 | 52 | 51.8 |
| 9:45AM | Jan S&P Global Composite PMI | Jan | 52.8 | 52.7 | |
| 10:00AM | Jan Consumer Sentiment (ip) | Jan | 56.4 | 54.0 | 52.9 |
| 10:00AM | Jan Sentiment: 1y Inflation (%) | Jan | 4% | 4.2% | 4.2% |
| 10:00AM | Jan Sentiment: 5y Inflation (%) | Jan | 3.3% | 3.4% | 3.2% |
| 10:00AM | Jan U Mich conditions | Jan | 55.4 | 52.4 | 50.4 |
| Monday, Jan 26 | |||||
| 8:30AM | Nov Durables ex-transport (%) | Nov | 0.2% | ||
| 8:30AM | Nov Durables ex-defense mm (%) | Nov | -1.5% | ||
| 8:30AM | Nov Core CapEx (%) | Nov | 0.5% | ||
| 8:30AM | Nov Durable goods (%) | Nov | 0.5% | -2.2% | |
| 9:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $8.304 billion | |||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
