MBS Day Ahead: Be Careful What You Read and Whom You Trust

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Posted To: MBS Commentary

Reading the news this morning, I came across multiple articles with such bogus claims that I feel compelled to rant about it here. All of the offenders (I stopped looking after 3 out of 3 all said the same thing) suggested that the overnight stock surge in Europe FOLLOWED the ZEW economic sentiment survey in Germany. Were stocks higher overnight? Yes! Was there an economic sentiment report in Germany from ZEW? Yes! Are the two things related? You tell me. If you answered "No! Not only does the rally obviously have nothing to do with the ZEW data, but in fact, German stocks FELL after the ZEW data was released. What the hell were they thinking?!" You'd be right! This is but one small, isolated example of financial market coverage that doesn't take a moment to vet claims on…(read more)

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