Today would have been Retail Sales day were it not for the government shutdown.  This also prevented Business Inventories from reporting (not an insignificant piece of data even if not on par with Retail Sales).  Tomorrow will see the New Residential Construction numbers (housing starts and building permits) stay silent due to the shutdown.  

This isn't an environment where bond traders are eager to make big bets.  That much is evident in the general sideways grind of the past week and a half.  Some of the only times that we see "big bets" are in response to trading levels being coaxed out of the prevailing range by other factors. 

That was the case today as 10yr Treasury yields approached their highest levels of the year.  Before the ceiling could be challenged, a big trade came through the Treasury futures block trade screen showing a boatload of 2yr Treasuries being sold and a slightly smaller boatload of 10yr Treasuries being bought.  That trade set the tone for the rest of the day, and it helped bonds hold their ground even though stocks moved to their highest levels in more than a month.  Pressure from corporate bond issuance also made today's resilience notable.


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
101-29 : -0-01
Treasuries
10 YR
2.7240 : +0.0160
Pricing as of 1/16/19 5:00PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:24AM  :  Stocks Add Some Pressure, But Bonds Are Fighting Back

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Matthew Graham  :  "yes"
Oliver Orlicki  :  "Brexit vote=spike?"
Dominick Cordone  :  "MBS community sure is awesome"

Economic Calendar
Time Event Period Actual Forecast Prior
Wednesday, Jan 16
7:00 MBA Purchase Index w/e 278.5 255.2
7:00 Mortgage Refinance Index w/e 1172.4 987.9
8:30 Export prices mm (%)* Dec -0.6 -0.6 -0.9
8:30 Import prices mm (%)* Dec -1.0 -1.3 -1.6
10:00 NAHB housing market indx Jan 58 56 56
Thursday, Jan 17
8:30 Jobless Claims (k) w/e 220 216