Some Resilience After AM Weakness
1 Hour, 4 Min ago
10yr yields are set to end the week at the highest levels since last July, but those were even higher highs earlier this morning. From roughly 9am-1130am ET, bonds recovered all of the day’s losses in a move that was led by adjustments to Fed rate hike expectations. Yes, we can/should call it that now because there are no longer any rate cut expectations based on futures trading. Instead, there’s indecision about holding steady vs a small chance of rate hikes. War headlines remain the dominant focus and weekends continue to offer a higher concentration of risk for financial markets.
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- Consumer Sentiment (Mar)
- 53.3 vs 54 f’cast, 56.6 prev
- Sentiment: 1y Inflation (Mar)
- 3.8% vs 3.4% f’cast, 3.4% prev
- Sentiment: 5y Inflation (Mar)
- 3.2% vs 3.2% f’cast, 3.3% prev
- Consumer Sentiment (Mar)
10:13 AM
Additional weakness overnight. MBS down 6 ticks (.19) and 10yr up 3.2bps at 4.452
11:39 AM
Bonds turning green. MBS up 2 ticks (.06) and 10yr down almost 1bp at 4.412
03:48 PM
Drifting back into weaker territory, very gradually. MBS down 1 tick (.03) and 10yr up 2bps at 4.44
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