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Early Strength Gives Way to Steady Selling
Early Strength Gives Way to Steady Selling
Bonds started the day in fairly good shape with a rally at the open and a certain measure of defiance of another jump in fuel prices. The defiance quickly gave way to underperformance--a fact that suggests short-term tradeflow considerations for the bond market or perhaps that we're simply putting the trading day under too much of a microscope. Either way, both yields and oil prices were higher by the end of the day although the 10yr avoided breaking above last week's highs.
Early Strength Gives Way to Steady Selling
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Sep 08 | |||||
| 6:00AM | Aug NFIB Business Optimism Index | Aug | 98.7 | 99.3 | 99.8 |
| 11:00AM | Aug Consumer Inflation Expectations | Aug | 3.6% | 3.6% | |
| 1:00PM | 6-Week Bill Auction (%) | 3.740% | 3.735% | ||
| 1:00PM | 3-Yr Note Auction (bl) | 58 | |||
| 3:00PM | Jul Consumer credit (bl) | Jul | $18.06B | $11.7B | $14.17B |
| Wednesday, Sep 09 | |||||
| 7:00AM | Sep/04 MBA Purchase Index | Sep/04 | 157.8 | ||
| 7:00AM | Sep/04 Mortgage Market Index | Sep/04 | 247.3 | ||
| 7:00AM | Sep/04 MBA Refi Index | Sep/04 | 732.6 | ||
| 8:15AM | ADP Employment Change Weekly | 11.75K | |||
| 1:00PM | 10-yr Note Auction (bl) | 39 | |||
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