Just a Bit More Selling to End The Week
Just a Bit More Selling to End The Week
Nothing much new happened in the bond market today and that's not great because the status quo has been for rising energy prices to push bond yields higher (and stocks lower). The short end of the curve actually improved, but that says more about end-of-week position squaring than any new development. All told, it was the least painful day of the week despite ending at the highest yields since Feb 4. Next week brings a Fed announcement with zero chance of a cut, but still perhaps some interesting commentary on how the Fed will sort inflation implications versus the economic impact.
Sideways to slightly stronger and a modestly positive reaction to the 8:30am data. MBS up an eighths and 10yr down 1.34bps at 4.252
MBS down an eighth of a point and 10yr up 1.3bps at 4.278
flattening out at weakest levels. MBS still down an eighth and 10yr up 1.9bps at 4.284
Just a Bit More Selling to End The Week
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Mar 13 | |||||
| 8:30AM | Q4 GDP Final Sales (%) | Q4 | 0.4% | 1.2% | 4.5% |
| 8:30AM | Q4 Core PCE Prices QoQ | Q4 | 2.7% | 2.7% | 2.9% |
| 8:30AM | Jan PCE prices (m/m) (%) | Jan | 0.3% | 0.3% | 0.4% |
| 8:30AM | Jan PCE (y/y) (%) | Jan | 2.8% | 2.9% | 2.9% |
| 8:30AM | Q4 PCE Prices (Q/Q) | Q4 | 2.9% | 2.9% | 2.8% |
| 8:30AM | Jan Durable goods (%) | Jan | 0% | 1.2% | -1.4% |
| 8:30AM | Jan Core CapEx (%) | Jan | 0% | 0.5% | 0.6% |
| 8:30AM | Jan Core PCE (y/y) (%) | Jan | 3.1% | 3.1% | 3% |
| 8:30AM | Jan Core PCE (m/m) (%) | Jan | 0.4% | 0.4% | 0.4% |
| 8:30AM | Q4 GDP (%) | Q4 | 0.7% | 1.4% | 4.4% |
| 10:00AM | Jan JOLTs Job Quits (ml) | Jan | 3.1M | 3.204M | |
| 10:00AM | Mar Sentiment: 1y Inflation (%) | Mar | 3.4% | 3.4% | |
| 10:00AM | Mar U Mich conditions | Mar | 57.8 | 56.6 | |
| 10:00AM | Mar Sentiment: 5y Inflation (%) | Mar | 3.2% | 3.3% | |
| 10:00AM | Mar Consumer Sentiment (ip) | Mar | 55.5 | 55 | 56.6 |
| 10:00AM | Jan USA JOLTS Job Openings (ml) | Jan | 6.946M | 6.70M | 6.542M |
| Monday, Mar 16 | |||||
| 12:00AM | Roll Date - UMBS 15YR, Ginnie Mae 15YR | ||||
| 8:30AM | Mar NY Fed Manufacturing | Mar | 3.8 | 7.10 | |
| 8:30AM | Feb Retail Sales (%) | Feb | 0% | ||
| 8:30AM | Feb Retail Sales Control Group MoM | Feb | |||
| 9:15AM | Feb Industrial Production (%) | Feb | 0.2% | 0.7% | |
| 9:20AM | NY Fed Bill Purchases 4 to 12 months (%) | ||||
| 10:00AM | Mar NAHB housing market indx | Mar | 37 | 36 | |
| 10:00AM | Jan Business Inventories (% ) | Jan | |||
