MBS Day Ahead: So You Want To Talk About The Dollar vs Rates?

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Posted To: MBS Commentary

Today is shaping up to be one of those days where we start off with a large overnight bond market movement followed by a rush of attempted explanations that don't quite pass muster. This happens from time to time. Market participants have a strong drive to connect the dots between cause and effect. But that's not always possible or at least not always clear. Still, that doesn't stop market participants from trying. I won't be trying TOO hard this morning. I figure it's more worthwhile for you to know when things are clear and when they're cloudy. I also have more personal trust in my cohorts who aren't shy about saying "I don't know what's going on." That makes me pay more attention when they're seeing clearer connections. As the title suggests…(read more)

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