No "Yeah Buts" in Today's CPI. It's All Bad For Bonds
No "Yeah Buts" in Today's CPI. It's All Bad For Bonds
Some inflation reports have counterpoints even if they appear high at first glance. This one is just all-around not great for bonds. Really the only way someone could try to find a silver lining would be to say that month-over-month inflation moved a hair lower in a few key categories, but considering last month's report saw very high readings in those categories, that silver might actually be a lightning bolt.
Bonds Looking Increasingly Comfortable With Recent Gains
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Nov 10 | |||||
| 12:00AM | Roll Date - UMBS 30YR | ||||
| 6:00AM | Oct NFIB Business Optimism Index | Oct | 97.8 | 97.7 | 97.9 |
| 8:15AM | ADP Employment Change Weekly | 19.75K | 16.75K | ||
| 8:30AM | Oct y/y CORE CPI (%) | Oct | 2.8% | 2.6% | |
| 8:30AM | Oct m/m Headline CPI (%) | Oct | 0.4% | 0.3% | 0.6% |
| 8:30AM | Oct m/m CORE CPI (%) | Oct | 0.3% | 0.2% | 0.3% |
| 8:30AM | Oct y/y Headline CPI (%) | Oct | 3.9% | 3.7% | |
| 12:00PM | WASDE Report | ||||
| 12:00PM | EIA Short-Term Energy Outlook | ||||
| 1:00PM | 10-Year Note Auction | 5.020% | 5.300% | ||
| Wednesday, Nov 11 | |||||
| 12:00AM | Veterans Day | ||||
| 7:00AM | Nov/06 MBA Refi Index | Nov/06 | 517.5 | ||
| 7:00AM | Nov/06 MBA Purchase Index | Nov/06 | 131.4 | ||
| 7:00AM | Nov/06 Mortgage Market Index | Nov/06 | 192.6 | ||
