Posted To: MBS Commentary
In this morning’s commentary , I said that anxiety over today’s FOMC Minutes was misplaced when it comes to defining moments in a potential long-term shift toward higher rates. The bigger issue has been and will continue to be Europe. But even then, it was still fair to wonder how big a role today’s FOMC Minutes might play in the bigger picture, for obvious reasons. In case it’s not altogether obvious, the reason is that today’s Minutes may have offered clues as to rate hike timing. It turns out they did! And it was just about as decisive and unanimous a statement as we see in Fed Minutes releases: “Many participants, however, thought it unlikely that the data available in June would provide sufficient confirmation that the conditions for raising the target range for…(read more)
Via:: MBS RECAP: Odds Drastically Increase That “It’s Not About The Fed”
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