Bonds were unchanged on Friday after selling off aggressively on Thursday.  At first glance, that could be taken as confirmation of the weakness, but it was a thinly-traded post-holiday session that suggested the proverbial jury should remain out until the new week.  Now today, bonds are trading the exact same range as seen on Friday.  In that sense, we're seeing additional confirmation of last week's big sell-off. 

20211115 open.png

The other way to look at the situation would be that bonds are holding their ground rather well considering the fundamental inputs and shifting Fed policies. 

20211115 open2.png


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 2.5
102-05 : -0-06
Treasuries
10 YR
1.5990 : +0.0150
Pricing as of 11/15/21 9:46AMEST

Tomorrow's Economic Calendar
Time Event Period Forecast Prior
Monday, Nov 15
8:30 NY Fed Manufacturing Nov 21.20 19.80
Tuesday, Nov 16
8:30 Retail Sales (%)* Oct 1.1 0.7
9:15 Industrial Production (%) Oct 0.7 -1.3
10:00 NAHB housing market indx Nov 80 80
10:00 Business Inventories (% ) Sep 0.7 0.6
Wednesday, Nov 17
7:00 MBA Purchase Index w/e 278.4
7:00 MBA Refi Index w/e 2841.0
8:30 House starts mm: change (%) Oct -1.6
8:30 Housing starts number mm (ml) Oct 1.580 1.555
8:30 Building permits: number (ml) Oct 1.638 1.586
8:30 Build permits: change mm (%) Oct -7.8
Thursday, Nov 18
8:30 Philly Fed Business Index * Nov 23.9 23.8
8:30 Jobless Claims (k) w/e 260 267
10:00 Leading index chg mm (%) Oct 0.8 0.2