Bonds have rallied or held steady every day this week and the net effect is a visit to the 1.0% psychological floor for 10yr yields.  Psychology aside, the floor of the actual trend channel (a series of higher lows and higher highs that connect to form an ascending, parallel boundary for yields since August) is closer to 0.98%.  Today brings the first look at Q4 GDP for 2020.  While GDP isn't typically a big market mover, this one could provide some food for thought as to how the economy digested the biggest short-term shock in modern economic history.

20210128 open.png

Jobless Claims data is out at the same time and is expected to drop just a bit from 900k to 875k.  Later in the morning, we'll get the final tally of 2020's New Home Sales.  Finally, the week's last Treasury auction hits at 1pm (these have been quite innocuous so far this week though).


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
UMBS 2.0
103-15 : +0-01
Treasuries
10 YR
1.0110 : -0.0030
Pricing as of 1/28/21 8:29AMEST

Tomorrow's Economic Calendar
Time Event Period Forecast Prior
Thursday, Jan 28
8:30 GDP Advance (%)* Q4 4.0 33.4
8:30 Jobless Claims (k) w/e 875 900
10:00 New Home Sales (%) (%)* Dec 1.9 -11.0
10:00 New Home Sales (ml) Dec 0.865 0.841
13:00 7-Yr Note Auction (bl)* 62