MBS Week Ahead: Both Sides of Market Getting Excited For The Fed

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Posted To: MBS Commentary

This week's economic calendar is exceptionally light, with no true top-tier reports. Even the 2nd-tier data is limited with Philly Fed on Thursday and Existing Home Sales on Friday. That leaves all the more focus on what was always destined to be this week's main event. Since the end of January, when bonds began making a case for a consolidation in the new, lower rate range, I've been harping on "mid-March" as the first real opportunity for a big break higher or lower in rates. The reasons for this were simple and twofold. First, the government shutdown cast uncertainty onto economic data at least through mid-March. Second: the Fed would be out with a scheduled policy announcement, press conference, and updated economic projections on March 20th. While the Fed has arguably…(read more)

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