1.573% on a 10yr US Treasury Note?!  While this still isn't the place a yield-seeking investor would park their money (inflation-adjusted returns at a balmy -0.90%), it is the highest we've been since June--perhaps high enough to bring in some buyers based on technicals and momentum. 

20211006 open4.png

In other words, perhaps we've finally seen enough selling this week to get buyers to acknowledge that there's still a ceiling to the short term range (even if is just a hair higher than it was in late September). The day is young and anything can happen, but at the very least, it was encouraging to see the day begin with bonds shrugging off the stronger-than-expected ADP employment data.

20211006 open6.png

bonus charts (nothing important to discuss here, but potentially interesting to some):

20211006 open2.png

20211006 open3.png

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
UMBS 2.5
103-00 : -0-01
10 YR
1.5210 : -0.0100
Pricing as of 10/6/21 9:36AMEST

Tomorrow's Economic Calendar
Time Event Period Forecast Prior
Wednesday, Oct 06
7:00 MBA Purchase Index w/e 280.4
7:00 MBA Refi Index w/e 3359.5
8:15 ADP National Employment (k)* Sep 428 374