MBS Week Ahead: Action-Packed Calendar of Data and Events

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Posted To: MBS Commentary

Another week in early 2017, another chance for bond markets to defend the rate ceiling set in late 2016(around 2.64% in 10yr yields) or strive for the rate floor (roughly 2.30%) . Defending the ceiling seems like a bigger threat given the established short term uptrend, but anything can happen considering we're roughly mid-range in the year's most active week of data and events. If we were starting to doubt the impact of economic data due to the market's recent preference for political headlines and post-holiday tradeflows, Friday challenged that assumption. Weaker GDP and Durable Goods helped fuel a moderate rally that kept trading levels near the center of the 2-month range. To whatever extent economic data can continue to serve as a motivation, there will be plenty of opportunity…(read more)

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