MBS RECAP: Bonds Push Trend Boundary With Help From Trade Headlines

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Posted To: MBS Commentary

There were 2 sorts of trade headlines in play today, but before we get to those, I wrote something today that bears repeating. "The trade deal, in and of itself, will not dictate the direction of markets in the big-picture over the longer run, but it WILL definitely deliver plenty of volatility inside a fairly wide range as market participants continue trying to figure out if the economy is slowing down, pausing, or preparing to speed back up." All that to say that neither of the following developments were game changers by any means, but still perfectly entitled to move the market. The first hit right out of the gate in the overnight session in response to the Senate passing a bill supporting the rights of Hong Kong protesters. Technically, the bill suggested an annual review of…(read more)

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