Boring, Flat Friday Leaves Focus Where it Should Be

Boring, Flat Friday Leaves Focus Where it Should Be It’s hard to overstate just how much potential the upcoming week has in terms of its ability to reiterate a supportive ceiling for rates or even to catalyze the next big move.  Either way, the consolidation range that was defined on a single trading day this past Monday ended up remaining almost perfectly intact for the entire week as if to confirm that the focus is indeed on the coming week–exactly where it should be Econ Data / Events Core PCE 0.3 vs 0.3 f’cast, 0.1 prev Core Annual PCE 3.7 vs 3.7 f’cast, 3.8 prev (revised down from 3.9) Market Movement Recap 09:33 AM Slightly weaker overnight.  Modest push back after data.  10yr up only .3bps at 4.852.  MBS unchanged. 03:50 PM Flat at sideways to slightly stronger levels.  MBS up 2 ticks (0.06).  10yr down 1.7bps at 4.835.