Posted To: MBS Commentary
We’ve been tracking a package from the BLS and new it was getting close as of Wednesday morning’s major focus on employment metrics. Today we heard the proverbial ” doorbell, thud, and rumble of the diesel engine restarting .” When we opened the package, it was basically a mix of water balloons, thumb tacks, and gremlins. Not cool NFP… Not cool at all. As to whether or not we will be able to return this particular package, it really depends on Europe . I know that sounds weird considering we’ve just experienced a lot of negativity due to domestic economic data and domestic monetary policy expectations, but it’s not quite that simple. Europe is like the current in our ocean, and domestic affairs are like the waves as far as bond markets are concerned at the moment…(read more)
Via:: MBS RECAP: Jobs Report Delivers on Promise of Volatility; What’s the Return Policy?
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