Hormuz Back in The News
Hormuz Back in The News
Iran has attacked a few cargo ships recently and there are repercussions. The peace deal looks to be on shakier ground over the past 24 hours with both sides talking tough on the internet. Just before 3pm, the U.S. referred to Iran's actions as unacceptable and revoked the license that allowed the sale of Iranian oil. Oil prices were higher all day, but especially after that news. Bond yields have been quick to reconnect with their old flame, exhibiting strong correlation over the past 24 hours. The net effect by 3:10pm was a 6.6bp rise in 10yr yields (4.536) and nearly a half point drop in MBS.
Hormuz Back in The News
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Jul 07 | |||||
| 8:15AM | ADP Employment Change Weekly | 21.0K | 30.75K | ||
| 8:30AM | May Trade Gap (bl) | May | $-77.6B | $-78.5B | $-55.9B |
| 9:20AM | NY Fed Bill Purchases 4 to 12 months (%) | $3.319 billion | |||
| 10:00AM | Jul IBD economic optimism | Jul | 45.5 | 45 | 42.5 |
| 11:00AM | Jun Consumer Inflation Expectations | Jun | 3.7% | 3.5% | |
| 11:30AM | 6-Week Bill Auction (%) | 3.635% | 3.655% | ||
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
| Wednesday, Jul 08 | |||||
| 7:00AM | Jul/03 Mortgage Market Index | Jul/03 | 272.2 | ||
| 7:00AM | Jul/03 MBA Refi Index | Jul/03 | 828.7 | ||
| 7:00AM | Jul/03 MBA Purchase Index | Jul/03 | 170.6 | ||
| 10:30AM | Jul/03 Crude Oil Inventory (ml) | Jul/03 | -3.775M | ||
| 1:00PM | 10-yr Note Auction (bl) | 39 | |||
| 2:00PM | FOMC Minutes | ||||
| 3:00PM | May Consumer credit (bl) | May | $17.1B | $20.73B | |
