Posted To: MBS Commentary
The most important thing to understand about today’s market movements is that by writing this sentence (or reading it, in your case), we’ve already given them more attention than they deserve . It was an excruciatingly slow trading session, both in terms of volume and participation. Any traders that stepped up to the plate with any level of conviction were able to move markets. Even then, trading levels held inside the range established on Thursday and Friday of last week, effectively continuing to consolidate ahead of this week’s FOMC events on Wednesday. All that having been said, the morning’s economic data did seem to give overnight positivity a bit of a push. This was especially true of the Industrial Production numbers which were not only weaker than expected for today’s…(read more)
Via:: MBS RECAP: Bonds Shy Away From PM Swoon to Hold Solid Gains
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