“Lagarde Responds with Pride in Leading ECB Amidst Criticism: An In-Depth Look”

The performance of the individual in question has been underwhelming, according to over fifty percent of the people surveyed, who described it as either “extremely unsatisfactory” or “unsatisfactory”. Furthermore, the ECB union presented her as having a dictatorial style of leadership.

“Decoding the 3.3% GDP Growth in the U.S Economy for Q4 of 2023: An Analysis”

Economists have forecasted a projected growth rate of 2% annually for the Gross Domestic Product in the last quarter of 2023.

“Turkey’s Strategic Play: The Impact of a Continued Interest Hike to Combat Persistent Inflation”

Turkey’s financial regulators continue to struggle against significant inflation, leading to an increase in interest rates.

“Analyzing the Impact of Surprising Inflation Data on Mortgage Bonds: A Detailed Recap”

The most straightforward interpretation of today’s modest bond market slump is as a straightforward response to the primary market factors. The morning brought with it more robust economic data and some unfavorable announcements from the Bank of Canada (BOC), enough to undermine a portion of the strength gained overnight. Furthermore, the afternoon witnessed a disappointingly poor 5-year Treasury auction which further dented the market. Considering the broader scenario, bonds seem to be favouring a tendency towards increased yields this January, which some analysts imply is a cautious strategy in light of the upcoming Federal Reserve decisions and next week’s data release.

Economic Data / Events

S&P Global PMIs

Manufacturing marked at 50.3, surpassing the 47.9 forecast and the previous 47.9.

Services logged at 52.9, higher than the 51.0 predicted and the previous 51.4.

Market Movement Recap

By 09:54 AM, the market was weaker post-data release, with a 10-year yield dip of 1bp for the day at 4.122 and MBS falling 1 tick (.03).

By 11:43 AM, the 5.5 coupons were down 3 ticks (.09) on the day but well above a quarter point from the morning highs, with 10-year yields up 1.5bps to 4.147.

By 01:26 PM, further decline occurred post the 5-year auction, resulting in a 10-year yield increase of 4bps to 4.172, and MBS down 5 ticks (.16).

By 04:06 PM, the market hit new lows with MBS down 6-7 ticks (.19-.22) and 10-year yields up by 5bps to 4.18+.

“Analyzing the Outcome: Thursday’s GDP Report Highlights U.S Economy at Decisive Junction”

The general expectation for the fourth quarter points to a 2% growth in the gross domestic product, adjusted for seasonal variations and annual rates.

“BlackRock’s Rick Rieder: Mastermind Behind A High-Yielding Outperformance Packed Income ETF”

The Flexible Income ETF, managed by BlackRock, is currently celebrating a 30-day SEC yield of 5.49%, demonstrating its prosperous activity.

“Mastering Real Estate Marketing in the Social Media Era: Insights from Expert Ralph DiBugnara”

Ralph DiBugnara, the mastermind behind Home Qualified and holding the position of its president, was a guest on ‘Power Lunch’ where he shared insights on how to market real estate in this rapidly advancing digital era.

“Unmasking the Dragon: China’s Economic Struggles with Deflation and Waning Consumer Confidence”

In 2023, the globe’s second-largest economic structure experienced an unanticipated delay in its resurgence following the cessation of Covid-19 limitations.

“Unveiling China’s Economic Struggles: A Deep Dive into Deflation and Declining Consumer Confidence”

In 2023, the rebound of the global economy’s second-largest player lagged behind expectations following the lift of Covid-19 containment measures.

“Unraveling Market Insights: A Comprehensive Recap of Mortgage Developments on January 22, 2024”

Gentle Rise, No Specific Cause

It was a gradual beginning to the week for the bond market. The year’s lowest trade volume was recorded, albeit by a trivial margin. There was little to no disturbance noticed as well. A slight progress marked the overnight session, only half of which continued till the end of the day. However, this slight uptick by no means substantially altered the existing scenario of bonds experiencing a gentle upward trend while looking for a temporary peak to establish a wider lateral pattern in anticipation of significant upcoming developments in the following three weeks.

Economic Data/ Events

Sales of Previously Owned Homes

3.78m compared to 3.82m estimate, 3.82m previously

Public Opinion on Economy

78.8 compared to 70.0 estimate, 69.7 previously

Predicted Inflation for the Following Year

Decreased by 0.2%

Inflation Forecast for the Next 5 Years

Decreased by 0.1%

Synopsis on Market Movement

09:48 AM: Considerable strength observed overnight. 10-yr treasury yield lowered by 4bps to 4.09 and MBS increased by nearly one quarter point.

01:32 PM: 10-yr treasury yields have mildly increased from lows of 4.075 to 4.101 (still lower by 2.9bps on the day). MBS are still up by 5 ticks (.16), however, down one-eight from the highs.

03:23 PM: Increased losses leading up to 2 pm, but rebounded from the weakest levels at the 3 pm CME closing. 10-yr yields lowered by 2.9bps at 4.103. MBS are up one-eight on the day.