MBS Day Ahead: Retail Sales in Focus; Trade Headlines Always a Risk

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Posted To: MBS Commentary

It's Friday and that means it's time to be on the lookout for unexpected trade-related headlines, especially in the afternoon. Those sorts of newswires and tweets have become almost predictable at the end of any given week, but markets have increasingly taken them with a grain of salt. Case in point, last week's major motivation for stock gains and bond market weakness was the notion that previously announced tariffs would be rolled back as a part of the phase 1 trade deal. The biggest move followed an announcement to that effect from China's commerce minister. But when Trump pushed back on those headlines on Friday, it did little to undo what had already been done (though it definitely moved markets). Before we get to the point in the day where such headlines become a bigger…(read more)

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