Patrick Smith
Executive / Management / Banker
Integrated Funding
License:
67369
MBS & US Treasury Markets
2/5 2:00:01AM EST : Delayed Data

Bonds initially drifted into slightly weaker territory in the overnight session, but began bouncing back just after 9am ET.  All this in spite of a quick spike in oil prices on an announcement from Trump regarding "maximum pressure" on Iran (intended to counter Iran's nuclear proliferation and "drive oil exports to zero").   Bonds continued improving after the mixed JOLTS data.  Job openings aren't quite as low as they were at the cycle lows in August, but the drop was more than enough to offset the uptick in "quits."  Both numbers correlate with rate movement (i.e. lower=lower and vice versa).

20250204 open.png

Patrick Smith
Executive / Management / Banker
Integrated Funding
License:
67369