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Bond Market Update

  • The Market at 15:11 ET

    10-Year: +8/32…1.59…EUR/USD: 1.1255USD/JPY: 100.30

    Treasury Market Stands Its Ground

    • Richmond Fed President Lacker (hawk, does not vote until 2018) said that the case for a December rate hike is strong
    • Minneapolis Fed President Kashkari (voter in 2017) (09:30 ET)
    • August New Home Sales: Actual 609K, Briefing.com consensus 585K, Prior 659K (revised from 654K)
    • ECB President Draghi says that eurozone recovery has less momentum, speaking in front of European Parliament
    • EUR/USD moves to 7-day high (+0.45% to 1.1277)
    • Fed Governor Tarullo (FOMC voter) (ongoing)
    • Italy's constitutional referendum will be held on December 4, according to Repubblica
    • $26 bln 2-year Treasury auction: High yield 0.750% (0.5 bp stop through), Bid-to-cover 2.65, Indirect bid 36.7%,  Direct bid 19.0%
    • Dallas Fed President Kaplan (voter in 2017): Would have been comfortable hiking rates in September; Fed should be patient though; still some labor market slack