Slightly Stronger Start, But Generally Sideways and "Waiting"
Slightly Stronger Start, But Generally Sideways and "Waiting"
Bonds are technically just a hair stronger this morning, but in the slightly bigger picture, nothing has happened yet this week (not that we'd expect that to be the case before 10am on a Monday). The tech stock narrative that precipitated a sharp bond rally last Thursday continues to consolidate in a sideways pattern. Bonds are doing the same. Both are waiting for whatever's next. Wednesday's Fed announcement could be a source of inspiration if any forward guidance manages to slip through Warsh's forward guidance moat.
Weaker Today. Much Stronger This Week
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Monday, Oct 26 | |||||
| 10:30AM | Oct Dallas Fed Manufacturing Index | Oct | 13.4 | 9.8 | |
| Tuesday, Oct 27 | |||||
| 8:00AM | Sep Building Permits (ml) | Sep | 1.4M | 1.403M | |
| 8:15AM | ADP Employment Change Weekly | 18.5K | |||
| 8:30AM | Sep Durable goods (%) | Sep | 1.5% | 0% | |
| 8:30AM | Sep Core CapEx (%) | Sep | 0.7% | 1.6% | |
| 9:00AM | Aug FHFA Home Price Index m/m (%) | Aug | 0.1% | 0.3% | |
| 9:00AM | Aug CaseShiller 20 mm nsa (%) | Aug | 0% | ||
| 9:00AM | Aug FHFA Home Prices y/y (%) | Aug | 2.6% | ||
| 9:00AM | Aug Case Shiller Home Prices-20 y/y (% ) | Aug | 2.5% | 2.5% | |
| 10:00AM | Oct CB Consumer Confidence (%) | Oct | 81 | 81.9 | |
| 10:00AM | Sep New Home Sales (ml) | Sep | 0.65M | 0.684M | |
| 1:00PM | 5-Year Note Auction | 5.033% | |||
