Posted To: MBS Commentary
As is often the case, this week has the dual distinction of hosting ‘month-end’ as well as nonfarm payrolls. Until recently, the ECB was almost always holding policy meetings on the Thursday of NFP weeks, thus adding to the volatility. Under their new schedule, that will only happen 5 times this year, and this week isn’t one of them. Even so, there is plenty of data and plenty of potential for movement. The calendar wastes no time in offering up a moderately important report with Incomes and Outlays leading off at 8:30am this morning. The Fed has indicated they don’t need to wait for wage growth to pick up before raising rates, but you can bet if they do see it , it would steel their resolve. Tuesday brings more semi-important data with Chicago PMI and Consumer Confidence ….(read more)
Via:: MBS Day Ahead: Long Term Rally Intact as NFP Approaches
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