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Some Volatility Surrounding Headlines, But Not Much Change
Some Volatility Surrounding Headlines, But Not Much Change
Bonds began the day roughly flat before losing ground modestly into the 9am hour as markets mis-read headlines regarding new peace proposals submitted by Iran. But just before 10am, similar headlines resurfaced including the claim that Iran's new proposal made concessions regarding Iran's nuclear aspirations. This accounted for a swift move into positive territory that was only partially reversed after Trump said he wasn't satisfied with the latest proposal despite acknowledging progress in the peace talks. The net effect is a bond market that is roughly unchanged heading into the 3pm CME close. As has been the case, any major progress toward peace over the weekend (or any major escalation) could result in trading levels being drastically different on Monday morning.
Some Volatility Surrounding Headlines, But Not Much Change
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, May 01 | |||||
| 9:45AM | Apr S&P Global Manuf. PMI | Apr | 54.5 | 54.0 | 52.3 |
| 10:00AM | Apr ISM Manufacturing PMI | Apr | 52.7 | 53 | 52.7 |
| 10:00AM | Apr ISM Mfg Prices Paid | Apr | 84.6 | 80 | 78.3 |
| 10:00AM | Apr ISM Manufacturing Employment | Apr | 46.4 | 49 | 48.7 |
| Monday, May 04 | |||||
| 10:00AM | Mar Factory orders mm (%) | Mar | 0.4% | 0% | |
| 12:50PM | Fed Williams Speech | ||||
| 2:00PM | Apr Total Vehicle Sales (ml) | Apr | 16.0M | 16.3M | |
| 2:00PM | Loan Officer Survey | ||||
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