On multiple recent occasions, we've seen bonds make a moderate move on days with important economic reports, but not in response to those economic reports. Thursday was the latest example. The 8:30am jobless claims data was undoubtedly a tradeable event based on the big volume spike at the time, but the higher yields were already in place by the time the data came out. Moreover, there wasn't much of a response afterward. Bonds spent the rest of the day drifting sideways to slightly weaker, but still very much in the prevailing pre-Thanksgiving range (i.e. 10yr yields 4.05-4.17).
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- Challenger layoffs (Nov)
- 71.321K vs -- f'cast, 153.074K prev
- Continued Claims (Nov)/22
- 1,939K vs 1960K f'cast, 1960K prev
- Jobless Claims (Nov)/29
- 191K vs 220K f'cast, 216K prev
- Challenger layoffs (Nov)
moderately weaker overnight with additional temporary selling after jobless claims data. MBS down 3 ticks (.09) and 10yr up 3bps at 4.093
10yr yields are up 4bps at 4.104. MBS down 5 ticks (.16).
MBS are now down 6 ticks (.19) and 10yr up 4.7bps at 4.11
MBS Market Alerts
