MBS Day Ahead: A Brief History of Black Fridays For Bond Markets


Posted To: MBS Commentary

Today is boring . It was destined to be boring (probably) before it even occurred, and even if it gives the appearance of being exciting at some point in the next few hours, odds are that it will end up looking boring in retrospect. Why? Well, it's not because market participants are waiting in line at Black Friday sales. That said, many of them will nonetheless be out of the office today. The silly–nay– RIDICULOUS market custom of opening for a half-day on the Friday after Thanksgiving (we close at 2pm ET today) makes it one of the slowest days of the year, every year. The following chart goes back to 2010 and highlights Black Friday's role in the immediately surrounding trading environment. While those roles have varied somewhat, the common theme is that Black Friday is almost always…(read more)

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