MBS Day Ahead: Retail Sales is Back! Will Traders Pretend Nothing Changed?

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Posted To: MBS Commentary

Perhaps it wasn't their fault, but several top tier economic reports up and left us during the government shutdown. We knew we'd see them again at some point, but in the meantime, we had to adapt to gleaning economic cues elsewhere. Moreover, we're left to wonder what the government shutdown time may have done to corrupt the first few rounds of economic reports that are returning after their forced hiatus. What am I getting at, you might ask? It's hard to imagine just how big and bureaucratic the US government is. The agencies that collect and distribute economic data have infinitely more employees than you or I would ever hire if charged with the task of collecting the same data. Only a small and noble percentage of government employees truly care about the far-reaching implications…(read more)

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