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Bonds Shake Off Mid-Day Weakness to Hold Mostly Steady
Bonds Shake Off Mid-Day Weakness to Hold Mostly Steady
Bonds took a break from their recent trend of moderate day over day movement to hold relatively steady on Wednesday. Econ data didn't get in the way in any noticeable way. If anything, ISM data briefly helped bonds move away from the day's weaker levels. But the key underlying consideration was a stable, sideways performance in fuel prices. MBS and Treasuries were technically a hair weaker, but it's just as fair to say they were "unchanged." Familiar risks remain in the day's ahead depending on Iran war headlines and Friday's NFP.
Bonds Shake Off Mid-Day Weakness to Hold Mostly Steady
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Aug 05 | |||||
| 7:00AM | Jul/31 MBA Purchase Index | Jul/31 | 154.0 | 159.8 | |
| 7:00AM | Jul/31 Mortgage Market Index | Jul/31 | 240.0 | 247.2 | |
| 7:00AM | Jul/31 MBA Refi Index | Jul/31 | 709.1 | 723.1 | |
| 8:15AM | Jul ADP jobs (k) | Jul | 44K | 70K | 98K |
| 9:45AM | Jul S&P Global Services PMI | Jul | 54.6 | 53.6 | 51.2 |
| 9:45AM | Jul S&P Global Composite PMI | Jul | 54.5 | 53.6 | 51.9 |
| 10:00AM | Jul ISM Biz Activity | Jul | 59.1 | 55.4 | |
| 10:00AM | Jul ISM Services Employment | Jul | 47.4 | 51.2 | |
| 10:00AM | Jul ISM Services New Orders | Jul | 57.2 | 55.1 | |
| 10:00AM | Jul ISM Services Prices | Jul | 70.3 | 67.7 | |
| 10:00AM | Jul ISM N-Mfg PMI | Jul | 54.1 | 54.5 | 54.0 |
| 10:30AM | Jul/31 Crude Oil Inventory (ml) | Jul/31 | 2.479M | -1.5M | -7.167M |
| 4:05PM | Fed Cook Speech | ||||
| Thursday, Aug 06 | |||||
| 5:30AM | Jul Challenger layoffs (k) | Jul | 45.849K | ||
| 8:30AM | Jul/25 Continued Claims (k) | Jul/25 | 1790K | 1782K | |
| 8:30AM | Aug/01 Jobless Claims (k) | Aug/01 | 202K | 197K | |
| 8:30AM | Q2 Unit Labour Costs QoQ Final | Q2 | 2.1% | 1.8% | |
| 9:20AM | NY Fed Bill Purchases 4 to 12 months (%) | $3.453 billion | |||
| 5:30PM | Fed Musalem Speech | ||||
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