Minimal Change Despite Lack of Progress in Peace Talks
Minimal Change Despite Lack of Progress in Peace Talks
The word of the day is "stalled." You can't get far reading top news stories over the weekend without seeing it in reference to the negotiations that looked at least somewhat possible on Friday afternoon. At that time, official word was that Witkoff/Kushner were heading to Pakistan on Saturday morning to meet with Iran's FM Araghchi, but the US contingent never made the trek. Now this morning there are additional reports that a resumption of military operations is being considered. One would think this would make for a big hit to financial markets, but oil prices and bond yields are only modestly higher. And stocks are actually in slightly stronger territory, once again pushing new all-time highs.
Bonds modestly weaker on stalled peace talks. 10yr up 1.4bps at 4.317 and MBS down 3 ticks (.09).
MBS down 5 ticks (.16) on the day and an eight from the highs. 10yr up 2.6bps at 4.329
10yr up 3.3bps at 4.335 and MBS still down 5 ticks (.16)
Bonds Finally Trade Something Other Than The War
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Apr 27 | |||||
| 10:20AM | NY Fed Bill Purchases 4 to 12 months (%) | $5.058 billion | |||
| 11:30AM | 2-Yr Note Auction (bl) | 69 | |||
| 1:00PM | 5-Yr Note Auction (bl) | 70 | |||
| Tuesday, Apr 28 | |||||
| 8:15AM | ADP Employment Change Weekly | 54.75K | |||
| 9:00AM | Feb Case Shiller Home Prices-20 y/y (% ) | Feb | 1.1% | 1.2% | |
| 9:00AM | Feb FHFA Home Price Index m/m (%) | Feb | 0.2% | 0.1% | |
| 9:00AM | Feb FHFA Home Prices y/y (%) | Feb | 1.6% | ||
| 9:00AM | Feb CaseShiller 20 mm nsa (%) | Feb | -0.1% | ||
| 10:00AM | Apr CB Consumer Confidence (%) | Apr | 89.2 | 91.8 | |
| 11:30AM | 2-Yr Note Auction (bl) | 30 | |||
| 1:00PM | 2-Year FRN Auction (%) | 0.115% | |||
| 1:00PM | 7-Yr Note Auction (bl) | 44 | |||
