Despite Onslaught of Fed Speakers, Bonds Hold Solid Gains

Wed, Jun 22 2022, 5:41 PM

Despite Onslaught of Fed Speakers, Bonds Hold Solid Gains

Oil costs, Asian equities indices, US equities futures, EU bonds, EU equities, and US Treasury yields…  All of the above moved steadily decrease within the in a single day session amid a broad risk-off commerce.  A technical break of June’s uptrend in charges added to the momentum.  With the early features in place, markets confronted an onslaught of Fed audio system, let by Fed Chair Powell throughout scheduled congressional testimony.

09:16 AM

Strong features in a single day with some early follow-through as home merchants begin their day.  10yr down 11.7bps at 3.16 and MBS up greater than 3/8ths of some extent. 

11:32 AM

Most bond features have been intact earlier than Powell, however Powell hasn’t been hurting (or saying something new, actually).  10yr down 12.3bps at 3.156 and MBS up half some extent at 99-26 (99.81).

01:47 PM

Sideways at stronger ranges all through Powell testimony and extra Fed audio system.  10yr yield down 13.5bps at 3.143%.  MBS up half some extent at 99-25 (99.78).

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