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Bonds Close Out Epic Week of Resilience With Friendly Data
Bonds Close Out Epic Week of Resilience With Friendly Data
Friday was a logically friendly day thanks to slightly lower CPI. But no matter what happened on any of the other 4 days, this week was all about bonds ending up at much stronger levels in spite of a jobs report that should have sent rates higher on Wednesday. Ironclad justification remains impossible, but the leading theory involves heavy liquidation mode in stocks/commodities on Thursday. Holiday weekend positioning could also be a factor. As such, we'll learn a lot more next Tuesday--especially if stocks find a reason to stage a big bounce.
Stronger After CPI and sideways since then. MBS up roughly and eighth and 10yr down 4bps at 4.06
Losing ground modestly. MBS still up 2 ticks (.06) and 10yr still down 3.5bps at 4.066
MBS up an eighth and 10yr down 4.7bps at 4.053
Bonds Close Out Epic Week of Resilience With Friendly Data
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Feb 13 | |||||
| 12:00AM | Roll Date - UMBS 15YR, Ginnie Mae 15YR | ||||
| 8:30AM | Jan m/m Headline CPI (%) | Jan | 0.2% | 0.3% | 0.3% |
| 8:30AM | Jan m/m CORE CPI (%) | Jan | 0.3% | 0.3% | 0.2% |
| 8:30AM | Jan y/y Headline CPI (%) | Jan | 2.4% | 2.5% | 2.7% |
| 8:30AM | Jan y/y CORE CPI (%) | Jan | 2.5% | 2.5% | 2.6% |
| Monday, Feb 16 | |||||
| 12:00AM | Presidents Day | ||||
| 8:25AM | Fed Bowman Speech | ||||
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