Bonds Turn Green After Econ Data and Treasury Auction
1 Hour, 6 Min ago
Bonds began the day in slightly weaker territory as yields continue to drift inside the narrow post-Fed range. The absence of big-ticket econ data is a key reason for the lack of volatility. But the lower-tier econ data can still move the needle as evidenced by this morning’s NY Fed Survey of Consumer Expectations. The survey showed a slight deterioration in attitudes about the labor market. Bonds moved into stronger territory after that and went on to hit the day’s best levels shortly after a well-received 3yr Treasury auction.
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- ISM Biz Activity (Sep)
- 49.9 vs 51.8 f’cast, 55 prev
- ISM N-Mfg PMI (Sep)
- 50.0 vs 51.7 f’cast, 52.0 prev
- ISM Services Employment (Sep)
- 47.2 vs — f’cast, 46.5 prev
- ISM Services New Orders (Sep)
- 50.4 vs — f’cast, 56.0 prev
- ISM Services Prices (Sep)
- 69.4 vs — f’cast, 69.2 prev
- ISM Biz Activity (Sep)
10:38 AM
Modestly weaker overnight, but moving into positive territory now. MBS up 1 tick (.03) and 10yr down 0.4bps at 4.142
11:56 AM
Gains continue. MBS up 3 ticks (.09) and 10yr down 2.7bps at 4.121
02:43 PM
Temporary gains after strong 3yr auction, but back to pre-auction levels now. MBS up 2 ticks (.06) and 10yr down 2.3bps at 4.125
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