Bond Markets Slightly Weaker in Domestic Session
Bond markets didn't do much overnight, but are now moving into slightly weaker territory in the domestic session. European bond market losses and stock market strength are both weighing on Treasuries. In addition, there's the short-term technical landscape noted in this morning's day ahead (the lower, busier chart with the bullet-point breakdown).
Fannie 3.5s are down 4 ticks (it looks like more because of the roll) to 101-29 and Fannie 5.0s are down 1 tick at 105-00. Fannie 3.5s are officially a more important indicator now, but don't ignore 4.0s, as either could motivate reprice risk.
There is no significant economic data on tap, though Wholesale Inventories at 10am is almost significant.