10yr yields ended the week at almost exactly where they began.  With the exception of Tuesday, bonds closed within 1.5bps of each other on the other 4 days this week.  Tuesday was only 2bps higher and gave way to an overnight rally that restored the range anyway!

Long story short, for all the hullabaloo about Turkey/China/Etc. it was a really quiet week.  Part of the issue is that Turkish shockwaves had their fun last week, but even then, it's not as if bonds are making big moves in the bigger picture.

If bonds aren't moving, perhaps we can find something interesting to say about something that IS moving and that usually has an effect on bonds.  Granted, I'll be the first to point out that the stock market should never be seen as a bond market indicator, but if we want to keep track of when the two are moving together and when they stop, that's different, even if it's more of a curiosity than an argument for strength/weakness.

All that having been said, if you were determined to use today's moves in stocks to draw a conclusion about bonds, it would be bond-friendly.  Reason being, stocks rose again, with most of the gains hitting after reports of US/China trade talks set for next week.  Although bond yields did rise after that news, they didn't rise much.  The sense of "ground-holding" over the past 2 days is fairly clear in the chart.

2018-8-17 close


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 4.0
101-27 : +0-01
Treasuries
10 YR
2.8641 : -0.0069
Pricing as of 8/17/18 5:29PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
11:47AM  :  Bonds Backing Away From Overnight Gains

Economic Calendar
Time Event Period Actual Forecast Prior
Friday, Aug 17
10:00 Consumer Sentiment Aug 95.3 98.0 97.9
10:00 1yr Inflation Outlook (%)* Aug 2.9 2.9
10:00 5yr Inflation Outlook (%)* Aug 2.5 2.4
10:00 Leading index chg mm (%) Jul 0.6 0.4 0.5
Wednesday, Aug 22
7:00 MBA Purchase Index w/e 225.5
7:00 Mortgage Refinance Index w/e 927.5
10:00 Exist. home sales % chg (%)* Jul 1.2 -0.6
10:00 Existing home sales (ml)* Jul 5.40 5.38
Thursday, Aug 23
8:30 Jobless Claims (k) w/e 215 212
9:00 Monthly Home Price yy (%) Jun 6.4
10:00 New home sales chg mm (%)* Jul 2.5 -5.3
10:00 New home sales-units mm (ml)* Jul 0.645 0.631
Friday, Aug 24
8:30 Nondefense ex-air (%)* Jul 0.4 0.2
8:30 Durable goods (%)* Jul -0.8 0.8