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Bonds Turn Red Overnight on War Headlines
Bonds Turn Red Overnight on War Headlines
Bonds spent most of the overnight session moving sideways to slightly stronger, but everything changed at 6:20am. That's when news broke regarding a statement from Iran's Khamenei saying that Uranium should not leave the country. Given that this is a sticking point for peace negotiations, the response in bonds/oil/etc was immediate and clear. Yields rose from 4.575 to 4.62 and continue to trade near there ever since.
Full Reversal and Then Some
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, May 21 | |||||
| 8:30AM | May/09 Continued Claims (k) | May/09 | 1782K | 1790K | 1782K |
| 8:30AM | May Philly Fed Prices Paid | May | 47.90 | 59.30 | |
| 8:30AM | May/16 Jobless Claims (k) | May/16 | 209K | 210K | 211K |
| 8:30AM | Apr Building Permits (ml) | Apr | 1.442M | 1.39M | 1.363M |
| 8:30AM | Apr Housing starts number mm (ml) | Apr | 1.465M | 1.41M | 1.502M |
| 8:30AM | May Philly Fed Business Index | May | -0.4 | 18 | 26.7 |
| 9:45AM | May S&P Global Composite PMI | May | 51.7 | 51.7 | |
| 9:45AM | May S&P Global Services PMI | May | 50.9 | 51.1 | 51.0 |
| 9:45AM | May S&P Global Manuf. PMI | May | 55.3 | 53.8 | 54.5 |
| 1:00PM | 10-yr Note Auction (bl) | 19 | |||
| Friday, May 22 | |||||
| 10:00AM | May Consumer Sentiment (ip) | May | 48.2 | 49.8 | |
| 10:00AM | May U Mich conditions | May | 47.8 | 52.5 | |
| 10:00AM | May Sentiment: 5y Inflation (%) | May | 3.4% | 3.5% | |
| 10:00AM | May Sentiment: 1y Inflation (%) | May | 4.5% | 4.7% | |
| 10:00AM | Apr CB Leading Index MoM (%) | Apr | -0.2% | -0.6% | |
| 11:00AM | Fed Waller Speech | ||||
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