Posted To: MBS Commentary
Econ Data Causing Bonds to Reconsider Commitment to Super Low Yields Bonds haven't been interested in econ data because none of it has had the ability to tell much of a story. Today's ADP Employment report is arguably an exception as it was staggeringly stronger than expected. Other data surprised to the upside, stocks set more multi-month highs, and bonds suddenly find themselves on the run. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying ADP Employment: -2.760m vs -9.000m f'cast, -19.557m prev ISM Non-Manufacturing 45.4 vs 44.0 f'cast, 41.8 previously Factory Orders -13.0 vs -14.0 f'cast Market Movement Recap 08:35 AM Bonds were modestly weaker overnight and are now under additional pressure after the much stronger-than-expected ADP Employment Report. 10yr…(read more)
Source: Mortgage News Daily
