MBS RECAP: Political Headlines Cause Volatility in a Narrow Range

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Posted To: MBS Commentary

If the only things you could observe about today's bond trading were volumes and "buy vs sell," there were a few moments where things got fairly interesting –especially after 2pm. That's when the biggest volume and the biggest movement of the day occurred. While there were several headlines in play at the time, it was Trump's off-the-cuff reference to a surprise economic development bill that would be announced "later on," after sufficiently focusing on "tax cuts and some other things right now," that most clearly rocked bond markets. "Rocked" is a relative term, to be sure. If you wanted to talk up the headline, you could point out that it resulted in a bigger single minute of volume in Treasury Futures than last week's very important…(read more)

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