Posted To: MBS Commentary
No Reaction to Fed Minutes (Or Anything Else For That Matter) It’s been a light week in terms of scheduled data and events with the power to motivate bond market volatility. Today wasn’t much of an exception although one must always give a wider berth to any official communication from the Fed. In today’s case, the Minutes from the most recent meeting (3 weeks ago) were 100% as-expected. Bonds logically ignored the Fed and continued trading in the new, sideways range–a hopeful, short term development that we’d like to see turn into a longer-term development. 1.62/63% continue offering resistance to bigger rallies in terms of 10yr yields. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 08:30 AM Fairly quiet overnight: flat in Asia, stronger in Europe…(read more)
