MBS Day Ahead: Only Major Econ Data of The Week, Plus Fed Minutes

Facebooktwitterlinkedin

Posted To: MBS Commentary

To be sure, market participants have one foot out the door today–either mentally, physically, or both. This has already been made quite clear in the increasingly consolidative range that we've been tracking throughout November, but especially over the past two weeks. Today's calendar contains the week's only significant economic data in the form of Durable Goods, which is expected to retract to 0.3 from 2.0 last month, with Cap-Ex (nondefense capital goods orders, excluding aircraft) contracting to 0.5 from 1.7. That may or may not be worth an exploration of one of the outer range boundaries this morning, depending on how far it falls from consensus, but even if that happens, it would be a temporary diversion. (Note: this just came out much weaker than expected. Bonds are rallying…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Facebooktwitterredditpinterestlinkedinmail
Show Buttons
Hide Buttons