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Bonds Punt. Focus Turns to Friday's Econ Data
Bonds Punt. Focus Turns to Friday's Econ Data
Bonds spent the past 2 days pushing back toward slightly higher yields after the 10yr nearly hit 4.0% in Tuesday's overnight session. While there was probably some technical resistance at work, Thursday suggests it wasn't a lasting, thematic shift. In other words, rather than remain committed to an ongoing push back toward higher levels, yields were flat to slightly lower. Perhaps this is as simple as 10yr yields hitting the 4.10 mark this morning and traders playing a narrow 4.0-4.10 range until econ data makes a breakout suggestion. On that note, Friday is the busiest morning of the week with the 1st look at Q4 GDP as well as December PCE inflation.
Slightly stronger overnight and a tiny bit of push-back after data. MBS unchanged and 10yr down 1bp at 4.066
Bonds Punt. Focus Turns to Friday's Econ Data
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Feb 20 | |||||
| 8:30AM | Q4 GDP Final Sales (%) | Q4 | 1.2% | 4.5% | |
| 8:30AM | Q4 Core PCE Prices QoQ | Q4 | 2.7% | 2.6% | 2.9% |
| 8:30AM | Q4 PCE Prices (Q/Q) | Q4 | 2.9% | 2.8% | 2.8% |
| 8:30AM | Dec PCE prices (m/m) (%) | Dec | 0.4% | 0.3% | 0.2% |
| 8:30AM | Dec PCE (y/y) (%) | Dec | 2.9% | 2.8% | 2.8% |
| 8:30AM | Q4 GDP (%) | Q4 | 1.4% | 3% | 4.4% |
| 8:30AM | Dec Core PCE (y/y) (%) | Dec | 3% | 2.9% | 2.8% |
| 8:30AM | Dec Core PCE (m/m) (%) | Dec | 0.4% | 0.3% | 0.2% |
| 9:45AM | Feb S&P Global Composite PMI | Feb | 52.3 | 53.0 | |
| 9:45AM | Feb S&P Global Services PMI | Feb | 52.3 | 53 | 52.7 |
| 9:45AM | Feb S&P Global Manuf. PMI | Feb | 51.2 | 52.6 | 52.4 |
| 9:45AM | Fed Bostic Speech | ||||
| 10:00AM | Dec New Home Sales (%) (%) | Dec | -1.7% | 15.5% | |
| 10:00AM | Feb Consumer Sentiment (ip) | Feb | 56.6 | 57.3 | 56.4 |
| 10:00AM | Feb Sentiment: 1y Inflation (%) | Feb | 3.4% | 3.5% | 4% |
| 10:00AM | Feb U Mich conditions | Feb | 56.6 | 57.7 | 55.4 |
| 10:00AM | Feb Sentiment: 5y Inflation (%) | Feb | 3.3% | 3.4% | 3.3% |
| 10:00AM | Dec New Home Sales (ml) | Dec | 0.745M | 0.73M | |
| 3:30PM | Fed Musalem Speech | ||||
| Monday, Feb 23 | |||||
| 8:00AM | Fed Waller Speech | ||||
| 10:00AM | Dec Factory orders mm (%) | Dec | 2.7% | ||
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