MBS Day Ahead: What Can The Fed Say That We Don’t Already Know?


Posted To: MBS Commentary

There's a fair amount on the calendar today from an objective standpoint. The 3 headliners are ADP Employment, the Treasury refunding announcement and the 2pm Fed announcement. It doesn't look like we're going to see much of a reaction to the first 2, which leaves only the Fed and "everything else" to move the needle. I don't see much of a case for the Fed to rise to the occasion. After all, what can the Fed really tell us that we don't already know? What we already know: The Fed absolutely will not hike rates today The Fed is on track to hike rates at the next meeting The balance sheet tapering continues The Fed is aware of potential future impacts from any trade wars The Fed will acknowledge recent "base-effect" rebounds in inflation The Fed expects…(read more)

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