MBS Day Ahead: Data-Free Day Leaves Markets to Find Their Own Way

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Posted To: MBS Commentary

No econ data on tap apart from Consumer Sentiment Oil surging, how much does it matter? Bonds trying to confirm technical bounce, but not quite there yet After a rollicking week of data, events, and market movement, bond markets hit a bit of an information void today, and will be forced to find their own path. In so doing, they'll have to rely on related markets and tradeflow landmines laid along technical paths. What the hell does that nonsense even mean? Let's break it down: Related markets. This simply refers to the usual interdependent relationships that bonds have with things like oil and stocks. In examining those relationships, it's good to keep in mind that they are far from perfect. Sometimes they are connected in the short-to-medium term. Other times, it takes an extreme…(read more)

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