Posted To: MBS Commentary

So far this morning, bonds have passed over the econ data in favor consolidating inside Friday’s trading range. Given the proximity of the Fed announcement (tomorrow) and the apparent importance of the Fed’s SLR extension (or expiration), it’s fair to assume that this range-bound consolidation stands its best chance to be resolved by Powell & Co., for better or worse. It’s also possible that we’re making too much of one individual event that exists in a sea of market momentum. After all, the underlying trade is on the pandemic (case counts and vaccinations, mainly). With that in mind, as case counts have seemingly bottomed out for now, and with Spring Break bringing some resurgence concerns, bond bulls can make a stronger case (or at least “another” case) for…(read more)

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Published On: March 16, 2021 / Categories: Mortgage News /

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