Another Red Start, And It's Not All About Oil
Another Red Start, And It's Not All About Oil
Bonds lost ground overnight with traders reacting to Trump's rejection of Iran's proposal to reopen the Strait of Hormuz. This isn't the first time that bonds have reacted to war headlines regardless of movement in oil prices. While oil also moved higher throughout the overnight session, bonds are increasingly detached in the bigger picture with yields staying relatively higher as they wait for a substantive change in the war or the economy. For all of the drama and volatility, it's really that simple.
Respectable Recovery and a Breakdown of MBS Outperformance
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Sep 28 | |||||
| 10:30AM | Sep Dallas Fed Manufacturing Index | Sep | 9.8 | 11.6 | |
| 1:30PM | Fed Barkin Speech | ||||
| Tuesday, Sep 29 | |||||
| 9:00AM | Jul FHFA Home Price Index m/m (%) | Jul | 0.1% | 0% | |
| 9:00AM | Jul FHFA Home Prices y/y (%) | Jul | 2.3% | ||
| 9:00AM | Jul CaseShiller 20 mm nsa (%) | Jul | 0.4% | ||
| 9:00AM | Jul Case Shiller Home Prices-20 y/y (% ) | Jul | 2.2% | 2.1% | |
| 9:20AM | NY Fed Bill Purchases 1 to 4 months (%) | $3.892 billion | |||
| 10:00AM | Aug JOLTs Job Quits (ml) | Aug | 3.056M | ||
| 10:00AM | Aug USA JOLTS Job Openings (ml) | Aug | 7.24M | 7.271M | |
| 10:00AM | Sep CB Consumer Confidence (%) | Sep | 90 | 89.4 | |
| 11:30AM | 6-Week Bill Auction (%) | 3.870% | |||
| 1:00PM | Fed Goolsbee Speech | ||||
| 1:30PM | Fed Musalem Speech | ||||
| 2:00PM | Fed Williams Speech | ||||
