Posted To: MBS Commentary
Uneventful Start to Q3, But Tomorrow is a Wild Card There’s always some risk that the first trading day of a new month can bring volatility and there’s always some risk that bonds will take a “lead-off” on the Thursday before a jobs report. But despite running both of those risks, today scraped by with minimal drama as of the 3pm CME close. Bonds were just barely weaker–not nearly enough to read any significance into the move. Tomorrow is anyone’s guess. NFP is certainly capable of producing volatility–as is the Friday before a 3 day weekend–but we’d have to question how sustainable any such move could be when we already know the Fed is waiting several more months before more heavily weighing the incoming economic data. Econ Data / Events Fed MBS Buying 10am, 1130am…(read more)
