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Ceasefire Uncertainty Adds to Losses
Ceasefire Uncertainty Adds to Losses
Bonds were just a bit weaker this morning after the weekly ADP data. Just before 11am ET, several newswires called ceasefire negotiations into question. Chief among these was a report that Iran had not confirmed its intent to participate. Despite the seemingly significant consequences, bonds only rose about 2bps in terms of 10yr yields. By the 3pm CME close, yields were up less than 4bps on the day and still well inside the prevailing consolidation range. There's been a bit more weakness since then owing to new headlines indicating that neither Iran nor JD Vance are attending Wednesday's planned talks in Pakistan.
Ceasefire Uncertainty Adds to Losses
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Wednesday, Apr 22 | |||||
| 7:00AM | Apr/17 Mortgage Market Index | Apr/17 | 281.0 | ||
| 7:00AM | Apr/17 MBA Refi Index | Apr/17 | 966.8 | ||
| 7:00AM | Apr/17 MBA Purchase Index | Apr/17 | 159.5 | ||
| 10:30AM | Apr/17 Crude Oil Inventory (ml) | Apr/17 | -1M | -0.913M | |
| 1:00PM | 20-Yr Bond Auction (bl) | 13 | |||
| Thursday, Apr 23 | |||||
| 8:30AM | Apr/11 Continued Claims (k) | Apr/11 | 1820K | 1818K | |
| 8:30AM | Apr/18 Jobless Claims (k) | Apr/18 | 212K | 207K | |
| 9:45AM | Apr S&P Global Services PMI | Apr | 50 | 49.8 | |
| 9:45AM | Apr S&P Global Manuf. PMI | Apr | 52.5 | 52.3 | |
| 9:45AM | Apr S&P Global Composite PMI | Apr | 50.3 | ||
| 1:00PM | 5-Yr Note Auction (bl) | 26 | |||
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