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Mostly Quiet Ahead of Friday's Jobs Report
Mostly Quiet Ahead of Friday's Jobs Report
Bonds lost a bit of ground on Thursday with most of the weakness seen in the overnight session in sympathy with European bond market weakness. The rest of the selling followed a stronger weekly jobless claims report. That said, we wouldn't give the data all the credit based on the timing of the selling and additional back-and-forth throughout the day. Tomorrow is far more interesting anyway. It brings what many view as the first clean reading of the big jobs report since before the government shutdown. Point being: the market will likely be more willing to react to any result that falls far from the median forecast--especially if the job count and unemployment rate both make the same case.
Weaker overnight with Europe and additional selling after Jobless Claims data. MBS down an eighth and 10yr up 2.6bps at 4.181
Sideways near opening levels. MBS down an eighth and 10yr up 1.9bps at 4.174
Same same. MBS down 3 ticks (.09) and 10yr up 2.7bps at 4.182
Mostly Quiet Ahead of Friday's Jobs Report
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Jan 08 | |||||
| 5:30AM | Dec Challenger layoffs (k) | Dec | 35.553K | 71.321K | |
| 8:30AM | Oct Trade Gap (bl) | Oct | $-29.4B | $-58.9B | $-52.8B |
| 8:30AM | Jan/03 Jobless Claims (k) | Jan/03 | 208K | 210K | 199K |
| 8:30AM | Dec/27 Continued Claims (k) | Dec/27 | 1914K | 1900K | 1866K |
| 9:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $8.165 million | |||
| 11:00AM | Dec Consumer Inflation Expectations | Dec | 3.4% | 3.2% | |
| 3:00PM | Nov Consumer credit (bl) | Nov | $4.23B | $10B | $9.18B |
| Friday, Jan 09 | |||||
| 8:30AM | Dec Participation Rate | Dec | 62.5% | ||
| 8:30AM | Dec Average earnings mm (%) | Dec | 0.3% | 0.1% | |
| 8:30AM | Dec Non Farm Payrolls (k) | Dec | 60K | 64K | |
| 8:30AM | Dec Unemployment rate mm (%) | Dec | 4.5% | 4.6% | |
| 10:00AM | Jan Sentiment: 5y Inflation (%) | Jan | 3.2% | ||
| 10:00AM | Jan Sentiment: 1y Inflation (%) | Jan | 4.2% | ||
| 10:00AM | Jan U Mich conditions | Jan | 50.4 | ||
| 10:00AM | Jan Consumer Sentiment (ip) | Jan | 53.5 | 52.9 | |
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