Modest Gains After Opening Weaker
Modest Gains After Opening Weaker
Tuesday ended up being a uneventful trading session despite 10yr yields hitting 3-week highs. Those highs were in place right at the open and things gradually improved from there. Markets are expressing a token amount of concern over the lack of progress on US/Iran peace, which continues to be the biggest potential market mover. Notably, there was also an obvious reaction to Consumer Confidence data today (even though it was very small). This lets us know we can't tune out other econ data just because the broader momentum is more likely tied to geopolitical developments.
Modestly weaker overnight. 10yr up 2bps at 4.362 and MBS down 3 ticks (.09).
MBS down an eighth and 10yr up 1.8bps at 4.359
MBS down an eighth and 10yr up 1.5bps at 4.357. No reaction to 7 year auction
Modest Gains After Opening Weaker
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Apr 29 | |||||
| 7:00AM | Apr/24 Mortgage Market Index | Apr/24 | 303.3 | ||
| 7:00AM | Apr/24 MBA Refi Index | Apr/24 | 1023.1 | ||
| 7:00AM | Apr/24 MBA Purchase Index | Apr/24 | 175.6 | ||
| 8:30AM | Mar Building Permits (ml) | Mar | 1.39M | ||
| 8:30AM | Mar Housing starts number mm (ml) | Mar | 1.40M | ||
| 8:30AM | Mar Core CapEx (%) | Mar | 0.5% | 0.6% | |
| 8:30AM | Mar Durable goods (%) | Mar | 0.5% | -1.4% | |
| 10:30AM | Apr/24 Crude Oil Inventory (ml) | Apr/24 | 0.3M | 1.925M | |
| 2:00PM | Fed Interest Rate Decision | 3.75% | 3.75% | ||
| 2:30PM | Fed Press Conference | ||||
| Thursday, Apr 30 | |||||
| 8:30AM | Apr/25 Jobless Claims (k) | Apr/25 | 215K | 214K | |
| 8:30AM | Apr/18 Continued Claims (k) | Apr/18 | 1820K | 1821K | |
| 8:30AM | Mar Core PCE (m/m) (%) | Mar | 0.3% | 0.4% | |
| 8:30AM | Mar PCE (y/y) (%) | Mar | 3.5% | 2.8% | |
| 8:30AM | Q1 Employment costs (%) | Q1 | 0.8% | 0.7% | |
| 8:30AM | Q1 GDP Final Sales (%) | Q1 | 0.3% | ||
| 8:30AM | Mar Core PCE (y/y) (%) | Mar | 3.2% | 3% | |
| 8:30AM | Q1 PCE Prices (Q/Q) | Q1 | 2.9% | ||
| 8:30AM | Q1 GDP (%) | Q1 | 2.3% | 0.5% | |
| 8:30AM | Q1 Core PCE Prices QoQ | Q1 | 4.1% | 2.7% | |
| 8:30AM | Mar PCE prices (m/m) (%) | Mar | 0.7% | 0.4% | |
| 9:45AM | Apr Chicago PMI | Apr | 53 | 52.8 | |
| 10:00AM | Feb CB Leading Index MoM (%) | Feb | -0.1% | -0.1% | |
