Slowest Day in Over a Month. No Reaction to Data
Slowest Day in Over a Month. No Reaction to Data
Thursday has thus far been the slowest and most sideways day since February 24th, before the start of the Iran war. A lull in war-related developments is likely helping. While there are plenty of isolated headlines, the only thing the market really cares about is the timeline for the war to be over. As such, the present ceasefire is a sort of limbo that's clearly better than peak tension in late March, but not an "all clear" to jump back in the market (unless it's the stock market, apparently). There are a few economic reports this morning, but no market reaction.
Giving up overnight gains before data and no change since. MBS unchanged and 10yr down half a bp at 4.279 (up from lows of 4.265).
10yr yields moved up 1bp back to unchanged levels of 4.281 and MBS are now down 1 tick (.03)
MBS down an eighth. Lows of the day. 10yr up 3.1bps at 4.315. Highs of the day.
Very Small Token Pull-Back
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Apr 16 | |||||
| 8:30AM | Apr/11 Jobless Claims (k) | Apr/11 | 207K | 215K | 218K |
| 8:30AM | Apr/04 Continued Claims (k) | Apr/04 | 1818K | 1810K | 1794K |
| 8:30AM | Apr Philly Fed Prices Paid | Apr | 59.30 | 44.70 | |
| 8:30AM | Apr Philly Fed Business Index | Apr | 26.7 | 10 | 18.1 |
| 8:35AM | Fed Williams Speech | ||||
| 9:15AM | Mar Industrial Production (%) | Mar | -0.5% | 0.1% | 0.2% |
| 10:35AM | Fed Miran Speech | ||||
| Friday, Apr 17 | |||||
| 12:15PM | Fed Barkin Speech | ||||
| 2:00PM | Fed Waller Speech | ||||
