Posted To: MBS Commentary
Oh man… I’m about to say some crazy stuff . If I could go back in time one year and tell myself “hey, past self, in a year you’re going to write an article and make a crazy chart claiming that NFP doesn’t matter any more,” I might have tried to detain my future self until he could be reasoned with. After all, I wouldn’t want him to damage his credibility by saying things that completely contradict things he’s said in the past. But that’s how it is in global financial markets. Something that was excessively important in the past may go through periods where no one gives a damn in the future. Inflation is a great example of this and I felt really bad for all the old guys who were tuned into markets in the 70’s and 80’s, because they just couldn’t…(read more)
Via:: MBS Day Ahead: Here’s Why NFP Means Absolutely Nothing Past the Next Few Hours
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