Posted To: MBS Commentary

Due to the presence of bigger ticket economic data (among other things), it was fair to expect more volatility in the current week compared to the previous week. But volatility goes both ways and the new week is starting out with “the good way” for bonds. Traders seem willing enough to react to economic data right out of the gate. That implies the rest of the week could be just as interesting. Of specific interest this morning is the noticeable drop in the “prices paid” component of the ISM Manufacturing data–the biggest drop since the start of the pandemic. Granted, in outright terms, prices are still at levels not seen since before the financial crisis (and even then, only briefly), but it was nonetheless a big enough drop to make a case for the top being in. We can confirm…(read more)

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Published On: August 2, 2021 / Categories: Mortgage News /