Uneventful Monday Despite AM Volatility
Mon, Aug 26 2024, 5:00 PM
Durable goods data made for a semblance of volatility this morning, with the core components resulting in a small rally at 8:30am. Bonds bounced back into weaker territory at 9:30am amid NYSE tradeflows. There was another mini-rally and another mini-sell-off ultimately giving way to an extremely narrow range near unchanged levels for the rest of the day. MBS outperformed Treasuries by an amount that makes good logical sense on a Treasury auction week. All in all, it may as well have been a 3 day weekend.
- Durable Goods
- 9.9 vs 5.0 f’cast, -6.9 prev
- Core Durable Goods
- -0.1 vs 0.0 f’cast, 0.5 prev
- Durable Goods
08:46 AM
Modestly weaker overnight and recovering after Durable Goods data. MBS unchanged. 10yr down 0.6bps at 3.794
10:01 AM
Back into negative territory. MBS down 2 ticks (0.06) and 10yr up 1.7bps at 3.817
03:19 PM
Sideways in a narrow range since the last update. MBS unchanged and 10yr up 1.4bps at 3.814
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