Posted To: MBS Commentary
Any rate watcher who lived through 2013 has not-so-fond memories of the taper tantrum. (For those of you who weren’t tuned in, that refers to the incredibly rapid rate spike that followed the Fed’s warning that they would begin winding down their bond buying programs in the coming months). Because of that precedent the conversation about the next tapering event has been on the table for more than year. It’s grown more serious and timely in the past few months and an official announcement is 100% expected on Wednesday. In fact, it’s so well expected that the week’s other big-ticket events may well be the bigger market movers. Of these, the most obvious candidate would be the perennial favorite: nonfarm payrolls on Friday. In addition, both varieties of the ISM data (manufacturing…(read more)
