Almost Like Clockwork

Almost Like Clockwork Almost like clockwork, after several days spent mostly rallying on a headline-driven drop in oil prices, bonds reversed course as the tone of the headlines changed and oil prices bounced. That said, oil didn't bounce too much today. The rest of the drama for bonds came courtesy of a big corporate bond announcement before the open. Yields remain safely under supportive ceilings for now, but weekend-adjacent days have been prime candidates for war headline volatility. And as always, the jobs report can never be ruled out as a source of inspiration for better or worse.  Econ Data / Events Jobless claims 199k vs 202k f'cast, 198k prev Market Movement Recap 09:18 AM Moderately weaker overnight on a combo of oil and corporate bond issuance.  MBS down 5 ticks (.16) and 10yr up 2.4bps at 4.637 11:46 AM MBS Down 7 ticks (.22) and 10yr up 4.5bps at 4.658 12:23 PM MBS now down 10 ticks (.31) and 10yr up 5.9bps at 4.673 02:20 PM Sideways at weakest levels. MBS down 9 ticks (.28) and 10yr up 5.9bps at 4.672