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Stronger Start. Quiet Calendar
Stronger Start. Quiet Calendar
Bonds are starting the new week in slightly stronger territory, but still well inside the prevailing trading range. There were no standout market movers over the weekend although tariff and trade-related uncertainty may be generally weighing on investor sentiment to some small extent. The econ calendar is very quiet throughout the week with Friday's PPI being the most relevant report (and that's not saying much). This leaves markets more susceptible to trade and geopolitical headlines, but big moves would require big surprises.
Modestly stronger overnight and holding gains. MBS up 2 ticks (.06) and 10yr down 2.6bps at 4.061
Surprisingly Light Reaction to Tariff Ruling
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Feb 23 | |||||
| 8:00AM | Fed Waller Speech | ||||
| 10:00AM | Dec Factory orders mm (%) | Dec | -0.7% | -0.5% | 2.7% |
| Tuesday, Feb 24 | |||||
| 8:00AM | Fed Golsbee Speech | ||||
| 8:15AM | ADP Employment Change Weekly | 10.25K | |||
| 9:00AM | Dec FHFA Home Price Index m/m (%) | Dec | 0.3% | 0.6% | |
| 9:00AM | Dec CaseShiller 20 mm nsa (%) | Dec | 0% | ||
| 9:00AM | Dec FHFA Home Prices y/y (%) | Dec | 1.9% | ||
| 9:00AM | Dec Case Shiller Home Prices-20 y/y (% ) | Dec | 1.5% | 1.4% | |
| 9:00AM | Fed Bostic Speech | ||||
| 9:00AM | Fed Collins Speech | ||||
| 9:15AM | Fed Waller Speech | ||||
| 9:30AM | Fed Cook Speech | ||||
| 10:00AM | Feb CB Consumer Confidence (%) | Feb | 87.3 | 84.5 | |
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| 3:15PM | Fed Barkin Speech | ||||
| 3:15PM | Fed Collins Speech | ||||
| 9:00PM | President Trump State of the Union Speech (%) | ||||
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