MBS Day Ahead: More Econ Data, Plus Tax Bill Vote, But Bonds Might Not Care

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Posted To: MBS Commentary

While today will play host to another set of economic reports as well as the House vote on its version of the tax bill, bond markets may continue to let other factors drive trading decisions. The 8:30am economic data includes Jobless Claims, Import Prices, and the Philly Fed Index. None of those are especially heavy hitters–especially Claims (not for the past few years anyway). Industrial Production at 9:15am can occasionally move markets, but not reliably. 10am NAHB Builder Confidence data is more of an industry curiosity than anything. The House is also expected to pass its tax bill, but markets likely won't care too much because the Senate is busy with its own tax bill, and until the two chambers come together on something that looks agreeable, all of the tax reform rhetoric is being…(read more)

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