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From an analytical standpoint, it's hard to offer new and interesting insights when the order of any given day is simply to observe broad war-related sentiment via oil prices. From there, if bonds are diverging, we have a few things to discuss, but if bond yields are following, the case is closed. Today's case is mostly closed as the correlation is mostly there. The only minor divergence arrived after the boatload of AM econ data. It wasn't much of a move, but it was in a friendly direction despite sharply lower jobless claims. Perhaps the market was modestly relieved that year over year PCE "only" rose to 3.5%?
slightly stronger overnight and no immediate reaction to boatload of econ data. MBS up 7 ticks and 10yr down 2.8bps at 4.402
12:05 PM
Fairly flat since the open. MBS up a quarter point and 10yr down 4bps at 4.39
A message from John "Demo" Lender:
This is an example of the suite of marketing tools included in a subscription to MBS Live! This is an example of how your can co-brand business partners. Try these tools with a free trial.
From an analytical standpoint, it's hard to offer new and interesting insights when the order of any given day is simply to observe broad war-related sentiment via oil prices. From there, if bonds are diverging, we have a few things to discuss, but if bond yields are following, the case is closed. Today's case is mostly closed as the correlation is mostly there. The only minor divergence arrived after the boatload of AM econ data. It wasn't much of a move, but it was in a friendly direction despite sharply lower jobless claims. Perhaps the market was modestly relieved that year over year PCE "only" rose to 3.5%?