MBS Week Ahead: Big Week of Domestic Data, But Will It Matter?

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Posted To: MBS Commentary

In the week just passed, Treasuries put in their most stable and uninspiring performance of the month (in their defense, it was a crazy month). Every single day's highs and lows were contained inside the range set on the previous Friday. Despite that intensely sideways performance, there were a few notable developments. These included the biggest bounce for MBS performance vs Treasuries since the August blowout began and the biggest inversion of the yield curve in more than a decade. In the week ahead, bonds will have 4 days to get through the month's big opening-week slate of economic data. As is typically the case, this includes both of the ISM reports (manufacturing and non-manufacturing), ADP Employment, and of course Friday's big jobs report. It remains to be seen how much…(read more)

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