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Holiday-Adjacent Waiting Game
Holiday-Adjacent Waiting Game
Monday may not have been an official holiday for the U.S. bond market, but it way as well have been. Volume certainly acted the part, which is no surprise considering overseas holiday closures. Headlines and data had a limited impact, at best. In general the market is waiting to see what happens in Iran after tomorrow night's deadline on Trump's ultimatum to reopen shipping channels.
A hair weaker overnight but rallying into positive territory in early trading. MBS up 6 ticks (.19) and 10yr down 1bp at 4.332
MBS up 6 ticks (.19) and 10yr down 0.7bps at 4.334
MBS up 6 ticks (.19) and 10yr down 1bp at 4.331
Holiday-Adjacent Waiting Game
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Apr 06 | |||||
| 10:00AM | Mar ISM Biz Activity | Mar | 53.9 | 59.9 | |
| 10:00AM | Mar ISM Services Prices | Mar | 70.7 | 63.0 | |
| 10:00AM | Mar ISM Services New Orders | Mar | 60.6 | 58.6 | |
| 10:00AM | Mar ISM N-Mfg PMI | Mar | 54.0 | 55 | 56.1 |
| 10:00AM | Mar ISM Services Employment | Mar | 45.2 | 51.8 | |
| Tuesday, Apr 07 | |||||
| 8:15AM | ADP Employment Change Weekly | 10K | |||
| 8:30AM | Feb Core CapEx (%) | Feb | 0% | ||
| 8:30AM | Feb Durable goods (%) | Feb | -0.5% | 0% | |
| 9:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $8.071 billion | |||
| 10:10AM | Apr IBD economic optimism | Apr | 48.1 | 47.5 | |
| 11:00AM | Mar Consumer Inflation Expectations | Mar | 3% | ||
| 12:35PM | Fed Goolsbee Speech | ||||
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
| 3:00PM | Feb Consumer credit (bl) | Feb | $10B | $8.05B | |
| 5:50PM | Fed Jefferson Speech | ||||
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