Posted To: MBS Commentary
Looking back on the past few days of trading activity, we see that absolutely nothing has happened since Monday’s quick correction following Friday’s crazy NFP day. 10yr yields have been hovering right around pre-NFP levels ever since. What changes this? (Fun Fact: March 18th FOMC day close, NFP day high and yesterday’s close, all 1.906!) First thing’s first: it sure wasn’t yesterday’s Fed Minutes! For the record, everyone knows that most of the Fed sees the first rate hike in 2015. Everyone knows there are a few who see it as early as June and a few who don’t see it until 2016. Everyone knows the Fed says that the timing of the rate hike is data dependent, but hardly anyone believes that it’s solely dependent on the data. As such, the data is not abundantly…(read more)
Via:: MBS Day Ahead: With the Fed Out of the Way, Now What?
Share this article
