Posted To: MBS Commentary
Earnings Season in Full Swing as Bonds Hold Range Have you heard the one about Ferrari moving the bond market? Well, now you have. In an apparent mystery move before the start of the domestic session, stocks and bond yields dropped in unison. It wasn’t the biggest move ever, but it was abrupt enough to suggest discrete motivation. The only suspect at the scene of the crime? Ferrari earnings! What’s the takeaway? Simply put: earnings season is in full swing. Stock/bond correlation has increased, and could continue to be a factor for small-scale volatility in a week where the dominant focus remains on Friday’s jobs report. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 08:12 AM Overnight session began weaker (and quiet, with much of Asia out on holidays…(read more)
