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Pre-Market Gains Stuck Around All Day
Pre-Market Gains Stuck Around All Day
The entirety of the domestic trading session was very flat compared to the ground covered during the overnight session. Pre-market headlines regarding a potential peace deal accounted for a 7bp drop in 10yr yields and 3/8th point improvement in MBS. 10s gained about 1 more bp by the close and MBS added another eighth of a point, bringing to total rally over half a point on the day as of 4pm ET. There were no other notable market movers by the time domestic trading hours began. The rally speaks to the likelihood that an official peace deal could create more rally momentum, but also to the market's susceptibility to war-related headlines.
Pre-Market Gains Stuck Around All Day
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, May 07 | |||||
| 5:30AM | Apr Challenger layoffs (k) | Apr | 83.387K | 60.62K | |
| 8:30AM | Apr/25 Continued Claims (k) | Apr/25 | 1800K | 1785K | |
| 8:30AM | Q1 Unit Labour Costs QoQ Final | Q1 | 2.6% | 4.4% | |
| 8:30AM | May/02 Jobless Claims (k) | May/02 | 205K | 189K | |
| 10:00AM | Feb Construction spending (%) | Feb | |||
| 10:00AM | Mar Construction spending (%) | Mar | 0.2% | -0.3% | |
| 10:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $7.585 billion | |||
| 11:00AM | Apr Consumer Inflation Expectations | Apr | 3.4% | ||
| 2:05PM | Fed Hammack Speech | ||||
| 3:00PM | Mar Consumer credit (bl) | Mar | $12.5B | $9.48B | |
| 3:30PM | Fed Williams Speech | ||||
| Friday, May 08 | |||||
| 5:45AM | Fed Cook Speech | ||||
| 8:30AM | Apr Participation Rate | Apr | 61.9% | ||
| 8:30AM | Apr Average earnings mm (%) | Apr | 0.3% | 0.2% | |
| 8:30AM | Apr Unemployment rate mm (%) | Apr | 4.3% | 4.3% | |
| 8:30AM | Apr Non Farm Payrolls (k) | Apr | 60K | 178K | |
| 10:00AM | May Consumer Sentiment (ip) | May | 49.5 | 49.8 | |
| 10:00AM | May U Mich conditions | May | 52.5 | ||
| 10:00AM | May Sentiment: 5y Inflation (%) | May | 3.5% | ||
| 10:00AM | May Sentiment: 1y Inflation (%) | May | 4.7% | ||
| 7:30PM | Fed Daly Speech | ||||
| 7:30PM | Fed Goolsbee Speech | ||||
| 7:30PM | Fed Waller Speech | ||||
| 7:30PM | Fed Bowman Speech | ||||
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