Traders Cautiously Buying The Dip
Traders Cautiously Buying The Dip
Things got a bit worse before they got better over the weekend. 10yr yields were as high as 4.58% in overnight trading, but are now down 1-2bps in early domestic trading. Oil prices mirrored the same movement overnight, but haven't recovered as much as bond yields. In fact, bonds arguably led the move lower with a gradual rally starting just after 5am ET. Most of the drop in oil prices followed news that Israel agreed to halt today's attacks in Lebanon. There is no big ticket econ data on tap. War headlines remain relevant as does the bond market's ongoing range-finding after Friday's rout.
More People Get Jobs. Financial Markets Hated It
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Jun 08 | |||||
| 11:00AM | May Consumer Inflation Expectations | May | 3.5% | 3.6% | |
| Tuesday, Jun 09 | |||||
| 6:00AM | May NFIB Business Optimism Index | May | 96.0 | 95.9 | |
| 8:15AM | ADP Employment Change Weekly | 35.75K | |||
| 8:30AM | Apr Trade Gap (bl) | Apr | $-56.4B | $-60.3B | |
| 9:20AM | NY Fed Bill Purchases 4 to 12 months (%) | $3.288 billion | |||
| 10:00AM | May Exist. home sales % chg (%) | May | 0.2% | ||
| 10:00AM | May Existing home sales (ml) | May | 4.06M | 4.02M | |
| 11:30AM | 6-Week Bill Auction (%) | 3.625% | |||
| 12:00PM | EIA Short-Term Energy Outlook (%) | ||||
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
