MBS RECAP: Not The Kind of “Interesting” We Were Looking For


Posted To: MBS Commentary

Well… at least things are interesting . The winter holidays are always a challenge from an analytical and market-watching standpoint. It seems like a vast oversimplification (indeed, I didn't believe it was true when someone tried to educate me years ago), but "new year momentum" can really be the primary motivation for bond markets. And it really can be something we just have to wait for until the 2nd week of January. In the case of 2018, the 2nd week of January suggested the New Year momentum was toward higher rates. As we wrap up the 3rd week of of January, that continues to be the case. It's really that simple. There's no need to dissect causality on smaller scales. But if you want smaller scale causality, we can talk about a fairly massive amount of corporate debt…(read more)

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