MBS RECAP: Bonds Shy Away From Firm Confirmation of Shift

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Posted To: MBS Commentary

Bonds had a chance to confirm the start of a new trend today Instead, they stayed on last week's fence Could be bad, could be nothing ISM Prices Paid hurt us more than headline helped Perhaps it's just a Monday thing or perhaps it's because I'm not that bright, but there was really only one interesting takeaway for bond markets today in my opinion. It had to do with this morning's ISM data and its inflation component. The whole dynamic of the data release and subsequent market reaction reminded me of the most recent preliminary Consumer Sentiment data. The whole dynamic of the data release and subsequent market reaction reminded me of the most recent preliminary Consumer Sentiment data. In a nutshell, headline sentiment was fine, but the inflation expectations dropped noticeably…(read more)

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