Shiny Trinket

What's on the agenda for this week?

Looks like a deal is being formed in Congress to open the government this week. The deal requires the bill to be voted in the House then back to the Senate. Some more work but looks promising.

The reaction pushed stocks higher this morning.

There isn’t any data today, the Treasury will begin its selling of 3s, 10s and 30s today with $58B of 3 year notes this afternoon at 1 pm ET, Wednesday $42B of 10 year notes, a new issue, Thursday $25B of new 30 year bonds. There isn’t any data scheduled until Thursday and Friday. Thursday October CPI expected at +0.2% month/month from +0.3% in September, year/year +3.1% from +3.0%; core month/month +0.3% from +0.2%, year/year +3.0% unchanged from September. Weekly jobless claims on Thursday estimated at 230K down from 232K estimates last week. Friday October PPI inflation month/month expectations +0.3%, year/year +2.8%, core PPI month/month +0.2%. October retail sales expected +0.2% from September estimates.

Whether this week’s data and past missed reports appear this week is a toss-up, no one will say.

Tomorrow the bond market will be closed for Veteran’s Day, the stock market will be open.

PRICES @ 10:00 AM

10 year note: 4.70% +1 bp

5 year note: 4.46% -1 bp

2 year note: 4.28% -2 bp

30 year bond: 4.94% +2 bp

30 year FNMA 6.0: @9:30 am 100.17 -8 bp (-10 bp from 10 am yesterday)

30 year FNMA 6.5: @9:30 am 102.09 -6 bp ( -8 bp from 10 am yesterday)

30 year GNMA 6.0: @9:30 am 100.56 -4 bp (-1 bp from 10 am yesterday)

Dollar/Yen: 158.31 +0.25 yen

Dollar/Euro: $1.0294 -$0.0047

Dollar Index: 109.22 +0.68

Gold: $2,681.40 +$16.00

Bitcoin: 95,003 -1458

Crude Oil: $74.23 -$0.02

DJIA: 42,239 -199

NASDAQ: 19,477 -12

S&P 500: 5899 -10

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