Bonds technically lost a small amount of ground today, but it's just as fair to say that they're holding steady on the week. In fact, closing yields today were right in line with last Thursday's closing levels. This might not have been the case if not for today's Fed speakers--several of whom reiterated dovish messages about being able to cut sooner rather than later. Other comments reiterated the notion that tariff-driven inflation should start to show up in next week's data (further increasing the stakes for CPI). The Treasury auction wasn't especially strong, but we occasionally see bonds improve simply because the auction cycle is over for any given week. While this isn't a big move, one could argue that it also helped the afternoon mini-rally.
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- Jobless Claims
- 227k vs 235k f'cast, 232k prev
- Continued Claims
- 1965k vs 1980k f'cast, 1955k prev
- Jobless Claims
MBS are down an eighth and 10yr yields are up 1bp at 4.345.
Pretty boring 30yr bond auction. Sideways at weaker levels with MBS down 6 ticks (.19) and 10yr up 2.9bps at 4.365
Decent little bounce after Waller comments. MBS down just over an eighth and 10yr up less than 1bp at 4.344
Modestly weaker at the close, but broadly sideways on the week. MBS down 5 ticks (.16) and 10yr up 1.1bps at 4.347
MBS Market Alerts
