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War Headlines Pushing Oil and Yields Higher
War Headlines Pushing Oil and Yields Higher
Some summertime Mondays are slow and uneventful. Some see brisk movement. Today's was somewhere in between. There was modest pressure at the outset following headlines about Iran planning to escalate hostilities. The sharpest increase in oil prices coincided with Iran seizing a UAE tanker in the Strait of Hormuz. 10yr yields followed and hit the highs of the day shortly thereafter. Bottom line: fairly straightforward day, even if moderately unpleasant for fans of low rates.
War Headlines Pushing Oil and Yields Higher
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Aug 18 | |||||
| 8:15AM | ADP Employment Change Weekly | 9.5K | 8.25K | ||
| 8:30AM | Jul Building Permits (ml) | Jul | 1.443M | 1.37M | 1.374M |
| 8:30AM | Jul Import prices mm (%) | Jul | -0.4% | 0.1% | 0.3% |
| 8:30AM | Jul Housing starts number mm (ml) | Jul | 1.239M | 1.35M | 1.427M |
| 9:15AM | Jul Industrial Production (%) | Jul | 0.3% | 0.1% | |
| 10:00AM | Jul Pending Home Sales (%) | Jul | 0.3% | -5.4% | |
| 11:30AM | 6-Week Bill Auction (%) | 3.670% | |||
| Wednesday, Aug 19 | |||||
| 12:00AM | Roll Date - Ginnie Mae 30YR | ||||
| 7:00AM | Aug/14 Mortgage Market Index | Aug/14 | 248.6 | ||
| 7:00AM | Aug/14 MBA Purchase Index | Aug/14 | 157.9 | ||
| 7:00AM | Aug/14 MBA Refi Index | Aug/14 | 744.4 | ||
| 10:30AM | Aug/14 Crude Oil Inventory (ml) | Aug/14 | 17.422M | ||
| 1:00PM | 20-Yr Bond Auction (bl) | 16 | |||
| 2:00PM | FOMC Minutes | ||||
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