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General Risk Aversion Trade Helping Bonds
General Risk Aversion Trade Helping Bonds
Bonds began the day in just barely stronger territory but continued to improve throughout. The first rally followed the 8:20am CME open--a common time of day to see a bit of extra momentum and volume. The next leg of the rally played out in the 10am hour which is when stocks did all of their selling for the day. That dynamic lends itself to the conclusion that the broader market is trading in a "risk-off" pattern amid global trade uncertainty.
Modestly stronger overnight and holding gains. MBS up 2 ticks (.06) and 10yr down 2.6bps at 4.061
Best levels of the day. MBS up an eighth and 10yr down 5.5bps at 4.033
Holding at strongest levels. MBS up 5 ticks (.16) and 10yr down 6.2bps at 4.025
General Risk Aversion Trade Helping Bonds
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Feb 23 | |||||
| 8:00AM | Fed Waller Speech | ||||
| 10:00AM | Dec Factory orders mm (%) | Dec | -0.7% | -0.5% | 2.7% |
| Tuesday, Feb 24 | |||||
| 8:00AM | Fed Golsbee Speech | ||||
| 8:15AM | ADP Employment Change Weekly | 10.25K | |||
| 9:00AM | Dec FHFA Home Price Index m/m (%) | Dec | 0.3% | 0.6% | |
| 9:00AM | Dec CaseShiller 20 mm nsa (%) | Dec | 0% | ||
| 9:00AM | Dec FHFA Home Prices y/y (%) | Dec | 1.9% | ||
| 9:00AM | Dec Case Shiller Home Prices-20 y/y (% ) | Dec | 1.5% | 1.4% | |
| 9:00AM | Fed Bostic Speech | ||||
| 9:00AM | Fed Collins Speech | ||||
| 9:15AM | Fed Waller Speech | ||||
| 9:30AM | Fed Cook Speech | ||||
| 10:00AM | Feb CB Consumer Confidence (%) | Feb | 87.3 | 84.5 | |
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
| 3:15PM | Fed Barkin Speech | ||||
| 3:15PM | Fed Collins Speech | ||||
| 9:00PM | President Trump State of the Union Speech (%) | ||||
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