This is another big week for MBS trades. Not only are there some very important economic reports (such as Retail Sales) but also a huge supply of Treasury auctions, a Congressional vote on Syria, a monthly bond coupon roll over, and this is the last week before the next Fed meeting.
Treasury auctions this week:
09/10 – 3 year note
09/11 – 10 year note
09/12 – 30 year bond.
MBS have made some more gains this morning but are now testing the 10 day moving average. MBS have a very nasty habit of pulling back from that important technical resistance. But this week could give a temporary improvement in pricing on Wednesday after the Syria vote. If we vote to attack, MBS will spike and pricing will temporarily improve. This will override any economic news for the week.
What is on the agenda for this week?
|
Date |
Time (ET) |
Economic Release |
Market Expects |
Prior |
|
9-Sep |
3:00 PM |
Consumer Credit |
$13.0B |
$13.8B |
|
10-Sep |
10:00 AM |
JOLTS – Job Openings |
NA |
3.936M |
|
11-Sep |
7:00 AM |
MBA Mortgage Index |
NA |
1.30% |
|
11-Sep |
10:00 AM |
Wholesale Inventories |
0.20% |
-0.20% |
|
11-Sep |
10:30 AM |
Crude Inventories |
NA |
-1.836M |
|
12-Sep |
8:30 AM |
Initial Claims |
327K |
323K |
|
12-Sep |
8:30 AM |
Continuing Claims |
2975K |
2951K |
|
12-Sep |
8:30 AM |
Export Prices ex-ag. |
NA |
0.00% |
|
12-Sep |
8:30 AM |
Import Prices ex-oil |
NA |
-0.40% |
|
12-Sep |
10:30 AM |
Natural Gas Inventories |
NA |
58 bcf |
|
12-Sep |
2:00 PM |
Treasury Budget |
NA |
-$190.5B |
|
13-Sep |
8:30 AM |
Retail Sales |
0.40% |
0.20% |
|
13-Sep |
8:30 AM |
Retail Sales ex-auto |
0.30% |
0.50% |
|
13-Sep |
8:30 AM |
PPI |
0.20% |
0.00% |
|
13-Sep |
8:30 AM |
Core PPI |
0.10% |
0.10% |
|
13-Sep |
9:55 AM |
Mich Sentiment |
82 |
82.1 |
|
13-Sep |
10:00 AM |
Business Inventories |
0.30% |
0.00% |