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Early Gains. Flat Afternoon. MBS Underperform
Early Gains. Flat Afternoon. MBS Underperform
Friday ended up offering a boring conclusion to a week that had at least some measure of excitement on Wednesday. Bonds started a hair stronger, lost ground modestly and then rallied to the day's best levels by noon. From there, 10yr yields went perfectly sideways in an ultra narrow range. MBS managed to hang on to just barely positive levels but gave up about an eighth of a point during the time Treasuries were holding steady. Technically, this is underperformance in a vacuum, but in the bigger picture, MBS have been doing just fine in relative terms. As a reminder, next week is 3.5 days thanks to Independence Day observance, and the jobs report will be on Thursday morning.
Early Gains. Flat Afternoon. MBS Underperform
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Jun 26 | |||||
| 10:00AM | Jun U Mich conditions | Jun | 47.7 | 48.9 | 45.8 |
| 10:00AM | Jun Consumer Sentiment (ip) | Jun | 49.5 | 50 | 44.8 |
| 10:00AM | Jun Sentiment: 5y Inflation (%) | Jun | 3.3% | 3.4% | 3.9% |
| 10:00AM | Jun Sentiment: 1y Inflation (%) | Jun | 4.6% | 4.6% | 4.8% |
| 10:30AM | Fed Williams Speech | ||||
| 11:30AM | Fed Kashkari Speech | ||||
| Monday, Jun 29 | |||||
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