Posted To: MBS Commentary
It’s that time again. Or, at least it will be next Friday. After 2 months in a row of painful NFP reactions in bond markets, the big jobs report is back again. The Fed has probably done some work toward decoupling rate-hike expectations from payrolls, but even before that, the previous reactions still bigger than they should have been according to previous Fed rhetoric. Getting back to today’s events, we only really had GDP and Yellen’s afternoon comments. Yellen expressed concern about wages and inflation, but only if they weaken from current levels. If they don’t, she stuck to the same recent script, saying the Fed doesn’t need to see these metrics improve in order to hike rates. With next week’s NFP in mind, Yellen also mentioned there is still “some way to go”…(read more)
Via:: MBS RECAP: Bonds Catch a Break Heading into Quarter-End and NFP Week
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