Big Rally After More Forceful Peace Deal Announcement
Big Rally After More Forceful Peace Deal Announcement
This morning's commentary noted Trump comments regarding planned air strikes for today. Bonds reacted, but maintained some skepticism. That proved to be a good instinct. At roughly 1:30pm, Trump said the air strikes were cancelled and that all parties had agreed on a deal, and that a time/place for signing would be announced shortly. There wasn't as much push back against those claims by foreign sources as we've often seen in response to similar claims of deals being reached. Stocks surged. Oil plummeted. 10yr yields dropped another 8bps for a total of more than 10 on the day. Almost every lender repriced by a healthy amount. Now we wait for whammies or no whammies.
Big Rally After Peace Deal News
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Jun 11 | |||||
| 8:30AM | May PPI y/y | May | 6.5% | 6.4% | 6% |
| 8:30AM | May Core PPI m/m (%) | May | 0.4% | 0.5% | 1% |
| 8:30AM | May/30 Continued Claims (k) | May/30 | 1795K | 1780K | 1777K |
| 8:30AM | Jun/06 Jobless Claims (k) | Jun/06 | 229K | 219K | 225K |
| 8:30AM | May PPI m/m (%) | May | 1.1% | 0.7% | 1.4% |
| 8:30AM | May Core PPI y/y (%) | May | 4.9% | 5.4% | 5.2% |
| 12:00PM | WASDE Report (%) | ||||
| 1:00PM | 30-Yr Bond Auction (bl) | 22 | |||
| 1:00PM | 30-Year Bond Auction | 5.020% | 5.046% | ||
| Friday, Jun 12 | |||||
| 10:00AM | Jun Sentiment: 1y Inflation (%) | Jun | 4.8% | ||
| 10:00AM | Jun U Mich conditions | Jun | 46.2 | 45.8 | |
| 10:00AM | Jun Sentiment: 5y Inflation (%) | Jun | 3.9% | ||
| 10:00AM | Jun Consumer Sentiment (ip) | Jun | 46 | 44.8 | |
