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Bonds Recovering a Bit After "Framework of a Deal" on Greenland
Bonds Recovering a Bit After "Framework of a Deal" on Greenland
Geopolitics have been front and center for financial markets over the past 2 days with both stocks and bonds taking clear cues from newswires pertaining to tariff brinksmanship, trade deal negotiations, foreign wealth fund participation, and ultimately, the late-day announcement of a "framework of a deal" regarding Greenland. Details are in short supply, but the most important development being a pause on the plan to implement new tariffs on February 1st. Markets are cautiously trading this as a win for now with stocks and bonds at the best levels of the week, but definitely not back in line with last week's levels.
choppy, sideways overnight session and little-changed so far. MBS up 2 ticks (.06) and 10yr down 1bp at 4.286
reasonably well received 20yr bond auction. 10yr down 3 bps at 4.266 and MBS up an eighth.
Best levels of the day after Greenland-related tariff pause and word of a "deal framework." MBS up 6 ticks (.19) and 10yr down 4.6bps at 4.25
Bonds Recovering a Bit After Framework of a Deal on Greenland
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Jan 21 | |||||
| 12:00AM | Roll Date - Ginnie Mae 30YR | ||||
| 7:00AM | Jan/16 MBA Refi Index | Jan/16 | 1580.8 | 1313.1 | |
| 7:00AM | Jan/16 Mortgage Market Index | Jan/16 | 397.2 | 348.0 | |
| 7:00AM | Jan/16 MBA Purchase Index | Jan/16 | 194.1 | 184.6 | |
| 8:30AM | US President Trump Speech (%) | ||||
| 10:00AM | Sep Construction spending (%) | Sep | -0.6% | -0.1% | 0.2% |
| 10:00AM | Oct Construction spending (%) | Oct | 0.5% | 0.1% | -0.6% |
| 10:00AM | Dec Pending Home Sales (%) | Dec | -9.3% | -0.3% | 3.3% |
| 1:00PM | 20-Yr Bond Auction (bl) | 13 | |||
| Thursday, Jan 22 | |||||
| 8:30AM | Q3 GDP Final Sales (%) | Q3 | 4.6% | 7.5% | |
| 8:30AM | Q3 PCE Prices (Q/Q) | Q3 | 2.8% | 2.1% | |
| 8:30AM | Q3 GDP (%) | Q3 | 4.3% | 3.8% | |
| 8:30AM | Jan/10 Continued Claims (k) | Jan/10 | 1884K | ||
| 8:30AM | Jan/17 Jobless Claims (k) | Jan/17 | 212K | 198K | |
| 10:00AM | Oct Core PCE (y/y) (%) | Oct | 2.7% | 2.8% | |
| 10:00AM | Oct Core PCE (m/m) (%) | Oct | 0.2% | 0.2% | |
| 10:00AM | Oct PCE (y/y) (%) | Oct | 2.8% | ||
| 10:00AM | Oct PCE prices (m/m) (%) | Oct | 0.2% | 0.3% | |
| 10:00AM | Nov Core PCE (y/y) (%) | Nov | 2.8% | ||
| 12:00PM | Jan/16 Crude Oil Inventory (ml) | Jan/16 | -2.5M | 3.391M | |
| 1:00PM | 10-yr Note Auction (bl) | 21 | |||
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