MBS RECAP: Have You Heard The One About Brexit and Bond Market Volatility?

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Posted To: MBS Commentary

First things first: all of the volatility we're about to discuss has been occurring inside a fairly narrow range in the slightly bigger picture. Moreover, much of that narrow range exists inside an even bigger version of a 'narrowing' range (i.e. the "consolidation pattern" that's existed for several months. With all that out of the way… BREXIT! Yes, it's a market mover even though we're talking about politics on the other side of the world. And no, it doesn't really make much sense, but I will give a brief 10 cent tour. Some politicians in The UK thought life would be better if the country left the EU. Voters agreed, albeit by a razor thin margin, and probably without ever being able to understand the economic ramifications of their vote. Nonetheless…(read more)

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