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Good Reminder That The Market Gets to Decide What Matters
Good Reminder That The Market Gets to Decide What Matters
If oil, Treasuries, stocks, and the rest of the market were completely closed, and if we could only estimate the probable impact of the news that's been available over the past 3 days, it would be hard to make that case that bond yields should be any lower than they were on Friday. In fact, some of the newswires (the ones citing various military clashes) might lead one to suspect yields should be higher. But here we are with 10s down more than 6bps and MBS up almost half a point just after 3pm ET--a good reminder that the market gets to decide what to make of the available news.
Good Reminder That Markets Decide What Matters
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, May 26 | |||||
| 9:00AM | Mar FHFA Home Price Index m/m (%) | Mar | 0.1% | 0.1% | 0% |
| 9:00AM | Mar FHFA Home Prices y/y (%) | Mar | 1.7% | 1.7% | |
| 9:00AM | Mar CaseShiller 20 mm nsa (%) | Mar | 1% | 0.4% | |
| 9:00AM | Mar Case Shiller Home Prices-20 y/y (% ) | Mar | 0.8% | 1% | 0.9% |
| 10:00AM | May CB Consumer Confidence (%) | May | 93.1 | 92 | 92.8 |
| 1:00PM | 6-Week Bill Auction (%) | 3.620% | 3.615% | ||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| Wednesday, May 27 | |||||
| 4:00AM | Fed Logan Speech | ||||
| 7:00AM | May/22 Mortgage Market Index | May/22 | 283.5 | ||
| 7:00AM | May/22 MBA Refi Index | May/22 | 920.2 | ||
| 7:00AM | May/22 MBA Purchase Index | May/22 | 170.4 | ||
| 8:15AM | ADP Employment Change Weekly | 42.25K | |||
| 9:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $6.576 billion | |||
| 11:30AM | 2-Yr Note Auction (bl) | 28 | |||
| 11:30AM | 2-Year FRN Auction (%) | 0.103% | |||
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
| 3:55PM | Fed Cook Speech | ||||
| 8:00PM | Fed Jefferson Speech | ||||
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