Bonds were weaker to start the day with oil prices moving sharply higher after last night's Trump speech. But a few hours into the trading session, the move was completely erased and reversed after some fairly simple headlines regarding Iran/Oman working on a resolution to open the Strait of Hormuz. Trump's speech and the Iran/Oman news may as well have been the only two things that happened today because those were the only moments with any serious market movement. The jobs report is on deck for tomorrow's holiday-shortened trading session.
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- Challenger layoffs (Mar)
- 60.62K vs -- f'cast, 48.307K prev
- Continued Claims (Mar)/21
- 1,841K vs 1840K f'cast, 1819K prev
- Jobless Claims (Mar)/28
- 202K vs 212K f'cast, 210K prev
- Challenger layoffs (Mar)
Weaker overnight after Trump speech and flat-ish since then. 10yr up 3.3bps at 4.35 and MBS down 7 ticks (.22).
Stronger after 9:30am NYSE open. MBS back to unchanged and 10yr down 1.6bps at 4.302
Additional gains after headline on Hormuz reopening headlines. MBS up 3 ticks (.09) and 10yr down 2.4bps at 4.295
Super flat all afternoon. MBS up 3 ticks (.09) and 10yr down 1bp at 4.309
MBS Market Alerts
