MBS Day Ahead: Brace For Nonsense in The News


Posted To: MBS Commentary

One of my favorite things to do is to push back on news media bandwagons with indignation and incredulity. Today provides a great opportunity for that because stocks are starting off weaker and most media outlets seem to be focused on the wrong stuff, or rather, only focused on one thing . Specifically, the announcement of new China-specific tariffs is said to be driving stocks and bond yields lower. Balderdash! Sort of… Yes, China tariffs have been a market mover this week, but they're not the only consideration today. Tariffs were a big deal on Monday, and at that time, I would agree there was a solid correlation with stock market weakness. In fact, one could argue that stocks set the tone on Monday and that tariffs were partly responsible for that (even though plummeting Facebook stock…(read more)

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