MBS Week Ahead: Range Breakout Guaranteed as Data and Calendar Collide

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Posted To: MBS Commentary

In the week just passed, the bond market committed to a perfectly sideways consolidation pattern after having moved down from the highest yields in more than a month. There were a few moderately relevant economic reports throughout the week and the bond market was surprisingly willing to react to several of them. That said, trade-related headlines hit the wires in close proximity to some of the econ data, thus muddying the waters of market movement investigation. To be sure, the biggest spikes in volume were definitely reserved for the unexpected news headlines, but this time around they didn't generate as much movement in prices/yields as they have in recent weeks. In the week ahead, bonds will be forced to abandon the current consolidation range simply because they're running out…(read more)

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