Fairly Calm Despite Some Fuel Price Pressure; Warsh on Deck

Fairly Calm Despite Some Fuel Price Pressure; Warsh on Deck To reiterate a sentiment from this morning, there's a decent amount of focus on Friday's Warsh speech at Jackson Hole simply because it's customary to focus on Fed Chair speeches at Jackson Hole. They're hit and miss in terms of delivering on volatility potential. There's nothing else of note on the econ calendar. With Monday being the last day of the month, we could also see momentum from early month-end trading. Other than that, fuel prices continue to set the tone more often than not. Today was no exception as an early afternoon surge in oil pushed yields to the highs of the day after reports that the White House rejected the idea of rekindling the June MOU/ceasefire. Econ Data / Events Jobless Claims  203k vs 208k f'cast, 207k prev Continued Jobless Claims 1778k vs 1790k f'cast, 1796k prev Market Movement Recap 08:31 AM Modestly weaker overnight. MBS down 2 ticks (.06) and 10yr up 1.2bps at 4.661 02:06 PM MBS down 5 ticks (.16) and 10yr up 3bps at 4.679 04:07 PM MBS down 2 ticks (.06) and 10yr up 2.1bps at 4.67