MBS Day Ahead: Bonds Hoping Today Makes Tomorrow a Good Friday

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Posted To: MBS Commentary

Bond markets close early (2pm ET), and market participation should reflect the rush for the exits Translation: liquidity and volume should die down early, making for potential early afternoon volatility and illogical movement With trading levels starting the day right at last week's closing levels, we're not reading too much into this week Durable Goods at 8:30am is the only relevant data (just in at a bond-friendly -2.8 vs -2.9 forecast) Tomorrow is a special day for bond market participants, especially those of us who never take a day off when markets are open. Good Friday is normally the only day of the year where markets are closed that is NOT also a federal holiday. But last year, it fell on the first Friday in April, which was an NFP day, and thus not recommended by SIFMA as an…(read more)

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