Posted To: MBS Commentary
It’s always a struggle to think of something to say on the morning of the jobs report before the jobs report actually comes out. It will be whatever it will be and will move markets however it moves markets. Big beats will almost always crush us and big misses will almost always help us. It’s only the situations where the end of the day sees bonds swing back around in a counterintuitive way where we can learn something (like this “aha moment” re: ECB QE way back in April 2014). Even so, I will try to come up with something here, although it will be the same thing I said yesterday and could quickly be disproved by reality. Them’s the breaks when NFP is involved, so take it for what it’s worth. Economic data ha s erred on the side of weakness recently–especially the…(read more)
Via:: MBS Day Ahead: Jobs Day! Opportunity and Risk
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