Tuesday offered remarkably of interest or consequence for the bond market. The most notable development was the brief visit to 4.75% in 10yr yields followed by the emergence of the quintessential "dip buyer" (i.e. "hey look... yields are high enough again that I think I'm going to buy some Treasuries"). The post-9:30am timing adds emphasis to that mentality among the retail investor community. Apart from that, there were no obvious motivations or relevant data points. Wednesday suffers a similar absence of scheduled events with the only exception being the Fed Minutes release at 2pm ET.
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- Building Permits (Jul)
- 1.443M vs 1.37M f'cast, 1.374M prev
- Housing starts number mm (Jul)
- 1.239M vs 1.35M f'cast, 1.427M prev
- Import prices mm (Jul)
- -0.4% vs 0.1% f'cast, 0.3% prev
- Building Permits (Jul)
Slightly weaker overnight and sideways since then. 10yr up 1.8bps at 4.74 and MBS down an eighth of a point.
MBS unchanged and 10yr down 1.2bps at 4.71
MBS up 1 tick (.03) and 10yr down 1.6bps at 4.706
MBS Market Alerts
