This email was sent to you by:
James |
|
Mortgage News Daily
|
Message: YOUR MESSAGE HERE |
Email alerts, such as this one, are a
free service provided by Mortgage News Daily. If you would like to receive an alert when
important news breaks please
register to join our community.
The Day Ahead: Little More than an Opening Act for Friday's NFP
Sometimes opening acts are surprisingly entertaining, or perhaps even moving. But more often than not, the headliner is what you came to see and the opener is less than memorable. Such is the case with Thursday and Friday. On any other week, today's line-up of economic reports borders on impressive, but now that we've seen just how silent and sideways bond markets were willing to be when all was said and done with GDP and FOMC, it's clear they're not waiting with bated breath for the Jobless Claims, Incomes/Outlays, or Chicago PMI reports this morning.
Referring to Wednesday's session as "sideways" requires a bit of clarification. There was actually an extraordinary amount of volatility intraday, and it was only by virtue of closing levels being relatively in line with Tuesday's closing levels that we'd begin to think of it as a sideways day. As far as Thursday is concerned, there's less on tap to cause the same sort of ups and downs we saw on Wednesday. That said, the "day before NFP Friday," regardless of its economic data, always has some chance of becoming the "lead off" day for the underlying directional biases. At this point, any such lead-off would be an extra bearish sort of thing as it would once-again take us out of the longer term uptrend in yields that was only tested previously on NFP Friday in early January.
[Image or graph removed from email. View full article with images]
|
MBS
Live Econ Calendar:
|
|
Week Of Mon, Jan 28 2012 - Fri, Feb 1 2012
|
|
Time
|
Event
|
Period
|
Unit
|
Forecast
|
Prior
|
|
Mon, Jan 28
|
|
08:30
|
Durable Goods
|
Dec
|
%
|
1.6
|
0.7
|
|
10:00
|
Pending sales change
mm
|
Dec
|
%
|
0.6
|
1.7
|
|
13:00
|
2-Yr Note Auction
|
--
|
bl
|
35.0
|
--
|
|
Tue, Jan 29
|
|
09:00
|
Case Shiller Home
Prices (20 City Month-Over-Month)
|
Nov
|
%
|
0.0
|
-0.1
|
|
10:00
|
Consumer confidence
|
Jan
|
--
|
64.0
|
65.1
|
|
13:00
|
5yr Treasury Auction
|
--
|
bl
|
35.0
|
--
|
|
Wed, Jan 30
|
|
07:00
|
Mortgage refinance
index
|
w/e
|
--
|
--
|
4916.7
|
|
07:00
|
Mortgage market
index
|
w/e
|
--
|
--
|
894.8
|
|
08:15
|
ADP National
Employment
|
Jan
|
k
|
165
|
215
|
|
08:30
|
GDP Final
|
Q4
|
%
|
1.2
|
3.1
|
|
13:00
|
7-Yr Note Auction
|
--
|
bl
|
29.0
|
--
|
|
14:15
|
FOMC Announcement
|
N/A
|
%
|
--
|
0.25
|
|
Thu, Jan 31
|
|
07:30
|
Challenger layoffs
|
Jan
|
k
|
--
|
32.6
|
|
08:30
|
Personal income mm
|
Dec
|
%
|
0.8
|
0.6
|
|
08:30
|
Consumption,
adjusted mm
|
Dec
|
%
|
0.3
|
0.4
|
|
08:30
|
Jobless Claims
|
w/e
|
K
|
350
|
330
|
|
09:45
|
Chicago PMI
|
Jan
|
--
|
50.5
|
51.6
|
|
Fri, Feb 1
|
|
08:30
|
Non-farm payrolls
|
Jan
|
k
|
155
|
155
|
|
08:30
|
Unemployment rate mm
|
Jan
|
%
|
7.8
|
7.8
|
|
08:58
|
Markit PMI
|
Jan
|
--
|
55.5
|
54.0
|
|
09:55
|
Consumer Sentiment
|
Jan
|
%
|
71.5
|
71.3
|
|
10:00
|
Construction
spending
|
Dec
|
%
|
0.7
|
-0.3
|
|
10:00
|
ISM Manufacturing
PMI
|
Jan
|
--
|
50.5
|
50.7
|
|
* mm: monthly | yy: annual | qq: quarterly | "w/e" in
"period" column indicates a weekly report
* Q1: First Quarter | Adv: Advance Release | Pre: Preliminary
Release | Fin: Final Release
* (n)SA: (non) Seasonally Adjusted
* PMI: "Purchasing Managers Index"
|
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.
This email was sent to you by:
|
Mortgage News Daily
|
 |
James Authentic Hermes Bags Handbags bsjuehynb Bowboro Village
Oakmere
Harrisonert Park
CA 123456 |
123456 |
Message:
YOUR MESSAGE HERE
The Day Ahead: Little More than an Opening Act for Friday's NFP
Sometimes opening acts are surprisingly entertaining, or perhaps even moving. But more often than not, the headliner is what you came to see and the opener is less than memorable. Such is the case with Thursday and Friday. On any other week, today's line-up of economic reports borders on impressive, but now that we've seen just how silent and sideways bond markets were willing to be when all was said and done with GDP and FOMC, it's clear they're not waiting with bated breath for the Jobless Claims, Incomes/Outlays, or Chicago PMI reports this morning.
Referring to Wednesday's session as "sideways" requires a bit of clarification. There was actually an extraordinary amount of volatility intraday, and it was only by virtue of closing levels being relatively in line with Tuesday's closing levels that we'd begin to think of it as a sideways day. As far as Thursday is concerned, there's less on tap to cause the same sort of ups and downs we saw on Wednesday. That said, the "day before NFP Friday," regardless of its economic data, always has some chance of becoming the "lead off" day for the underlying directional biases. At this point, any such lead-off would be an extra bearish sort of thing as it would once-again take us out of the longer term uptrend in yields that was only tested previously on NFP Friday in early January.
|
MBS
Live Econ Calendar:
|
|
Week Of Mon, Jan 28 2012 - Fri, Feb 1 2012
|
|
Time
|
Event
|
Period
|
Unit
|
Forecast
|
Prior
|
|
Mon, Jan 28
|
|
08:30
|
Durable Goods
|
Dec
|
%
|
1.6
|
0.7
|
|
10:00
|
Pending sales change
mm
|
Dec
|
%
|
0.6
|
1.7
|
|
13:00
|
2-Yr Note Auction
|
--
|
bl
|
35.0
|
--
|
|
Tue, Jan 29
|
|
09:00
|
Case Shiller Home
Prices (20 City Month-Over-Month)
|
Nov
|
%
|
0.0
|
-0.1
|
|
10:00
|
Consumer confidence
|
Jan
|
--
|
64.0
|
65.1
|
|
13:00
|
5yr Treasury Auction
|
--
|
bl
|
35.0
|
--
|
|
Wed, Jan 30
|
|
07:00
|
Mortgage refinance
index
|
w/e
|
--
|
--
|
4916.7
|
|
07:00
|
Mortgage market
index
|
w/e
|
--
|
--
|
894.8
|
|
08:15
|
ADP National
Employment
|
Jan
|
k
|
165
|
215
|
|
08:30
|
GDP Final
|
Q4
|
%
|
1.2
|
3.1
|
|
13:00
|
7-Yr Note Auction
|
--
|
bl
|
29.0
|
--
|
|
14:15
|
FOMC Announcement
|
N/A
|
%
|
--
|
0.25
|
|
Thu, Jan 31
|
|
07:30
|
Challenger layoffs
|
Jan
|
k
|
--
|
32.6
|
|
08:30
|
Personal income mm
|
Dec
|
%
|
0.8
|
0.6
|
|
08:30
|
Consumption,
adjusted mm
|
Dec
|
%
|
0.3
|
0.4
|
|
08:30
|
Jobless Claims
|
w/e
|
K
|
350
|
330
|
|
09:45
|
Chicago PMI
|
Jan
|
--
|
50.5
|
51.6
|
|
Fri, Feb 1
|
|
08:30
|
Non-farm payrolls
|
Jan
|
k
|
155
|
155
|
|
08:30
|
Unemployment rate mm
|
Jan
|
%
|
7.8
|
7.8
|
|
08:58
|
Markit PMI
|
Jan
|
--
|
55.5
|
54.0
|
|
09:55
|
Consumer Sentiment
|
Jan
|
%
|
71.5
|
71.3
|
|
10:00
|
Construction
spending
|
Dec
|
%
|
0.7
|
-0.3
|
|
10:00
|
ISM Manufacturing
PMI
|
Jan
|
--
|
50.5
|
50.7
|
|
* mm: monthly | yy: annual | qq: quarterly | "w/e" in
"period" column indicates a weekly report
* Q1: First Quarter | Adv: Advance Release | Pre: Preliminary
Release | Fin: Final Release
* (n)SA: (non) Seasonally Adjusted
* PMI: "Purchasing Managers Index"
|
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.