Rangebound Weakness With Fed Speakers Keeping Bonds Wary
Rangebound Weakness With Fed Speakers Keeping Bonds Wary
Bonds might have had a chance to hold steady today--and to be fair, they did hold steady in the bigger picture--but some combination of Fed speakers and position-squaring resulted in a morning sell-off. The afternoon was a dud with no major movement in either direction. Next week brings several Fed speakers that may help us figure out if the views expressed on Friday are widespread.
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- Consumer sentiment
- 63.9 vs 60.0 f'cast, 59.2 prev
- 1y inflation
- 3.3 vs 5.2 prev
- 5y inflation
- 3.0 vs 3.1 prev
- Consumer sentiment
Flat overnight and now weaker in the first 90 minutes. 10yr up 5+ bps at 3.77+. MBS down 3/8ths.
Rally/Sell-Off/Rally after Consumer Sentiment data and now back in line with pre-data levels (same as the last update).
Leveling off now at the same old levels in Treasuries (10yr at 3.77), but slightly better MBS (down a bit less than a quarter point)
Sideways at slightly weaker levels into the close. No major change from the last update.