MBS Day Ahead: Volatility Risks Increase (Not What Mortgage Market Wants to Hear)

Facebooktwitterlinkedin

Posted To: MBS Commentary

In the day just passed, the bond market got off to a slow and stable start for the week. There was modest overnight weakness that carried over into the start of the domestic session, but a significantly weaker-than-expected Chicago PMI report helped bonds recover and ultimately move microscopically lower in yield. In the day ahead, the week's data relevance will continue to build as the important ISM Manufacturing report is released at 10am ET. Though not quite in the same league as something like Friday's Nonfarm Payrolls data, the ISM reports are about as big as it gets in terms of potential market movers (at least if we're only talking about economic data). As the consolidation range runs out of room, we're expecting a breakout any time now. In fact, overnight trading already…(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