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Consumer Sentiment Weaker Than Expected; Limited Response in Bond Markets
Posted to: Micro News
Friday, May 16, 2014 10:05 AM

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Bond markets had been leaking into weaker territory most of the morning.  While there's no telling if that trend will resume shortly, it's at least been placed on hold by a much weaker than expected reading on Consumer Sentiment.  Here's the run-down:

  • Consumer Sentiment (overall) 81.8 vs 84.5 forecast
  • 'Current Conditions' 95.1 vs 99.0 forecast (lowest since November)
  • 'Expectations' 73.2 vs 75.0 forecast

There has been almost no reaction in Treasuries or MBS, but if we look through a microscope at the moment to moment activity at 9:55am, trading levels stopped leaking at that point and are now considering where to go next.  10yr yields are up 1.2bps on the day at 2.514 and Fannie 3.5s are down 6 ticks at 102-13




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