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Bonds Bounce Back After Mid-Day Stumble
Bonds Bounce Back After Mid-Day Stumble
Bonds began the day in stronger territory following overnight reports of regarding a potential reopening of the Strait of Hormuz. Yields and oil prices moved steadily higher after that, ultimately rising into negative territory following Trump's UN speech. Subsequent newswires pushed back in the other direction. These involved claims of contact between the U.S. and the Iranian delegation on the sidelines of the UN general assembly as well as Trump comments regarding momentum toward a deal. None of the above was sweeping or definitive, but it was enough to bring oil prices back to session lows and for bonds to move back into positive territory.
Sideways and Slightly Stronger
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Sep 22 | |||||
| 8:15AM | ADP Employment Change Weekly | 20K | 16.25K | ||
| 10:05AM | Fed Williams Speech | ||||
| 10:20AM | Fed Jefferson Speech | ||||
| 11:30AM | 6-Week Bill Auction (%) | 3.870% | 3.850% | ||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| 1:00PM | Fed Barkin Speech | ||||
| 8:00PM | UN General Assembly (%) | ||||
| Wednesday, Sep 23 | |||||
| 7:00AM | Sep/18 Mortgage Market Index | Sep/18 | 230.8 | ||
| 7:00AM | Sep/18 MBA Purchase Index | Sep/18 | 156.2 | ||
| 7:00AM | Sep/18 MBA Refi Index | Sep/18 | 627.1 | ||
| 9:45AM | Sep S&P Global Composite PMI | Sep | 56 | ||
| 9:45AM | Sep S&P Global Manuf. PMI | Sep | 53.6 | 53.9 | |
| 9:45AM | Sep S&P Global Services PMI | Sep | 56 | 56.5 | |
| 10:05AM | Fed Barr Speech | ||||
| 10:30AM | Sep/18 Crude Oil Inventory (ml) | Sep/18 | -0.6M | -0.64M | |
| 11:30AM | 2-Yr Note Auction (bl) | 28 | |||
| 11:30AM | 2-Year FRN Auction (%) | 0.055% | |||
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
| 8:00PM | President Trump and President Xi Summit (%) | ||||
| 8:00PM | UN General Assembly (%) | ||||
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