MBS Day Ahead: Some Things Are True Regardless of NFP

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Posted To: MBS Commentary

NFP used to be one of the only games in town when it came to market movement That's decreasingly true Even though it can still definitely have a big short term impact, it won't necessarily set the tone like it used to Here's why I can remember putting together charts showing that entire months-worth of bond market movement oftentimes followed the suggestion laid out by NFP at the beginning of the month. Even on the occasions where the MBS Live community debated a particular NFP's relevance, there were still plenty of examples of it causing a surprising amount of market movement. Times are changing though. While it's true that NFP will always have the ability to cause a big reaction on the day of its release (this probably won't ever change), it's also true that it…(read more)

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