MBS Week Ahead: Limited Data and Fed Blackout Leave Focus on Trump, Technicals

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Posted To: MBS Commentary

Beginning on the business week before an FOMC Announcement, Fed speakers are "highly discouraged" (forbidden, basically) from making public speeches or comments regarding monetary policy. This is referred to as the Fed's blackout period and it begins today in the run up to next Wednesday's Announcement. That deprives markets of one semi-reliable source of inspiration. The state of the economic data calendar achieves a similar feat with a simple lack of abundant, relevant data. Case in point, there is essentially nothing on the calendar for Today and Wednesday. Sure, we could talk about the Mortgage Market Index, FHFA Home Prices, and Oil Inventory data, but none of these are even 2nd tier economic reports from a market-moving standpoint (unless, perhaps you day trade oil)…(read more)

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