MBS Week Ahead: Record-Breaking Shutdown and Data Darkness

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Posted To: MBS Commentary

The government shutdown is now the longest ever, and there are a variety of interesting implications. The first is that multiple economic reports will not be released as scheduled. The notable examples in the current week include Retail Sales and the New Residential Construction report ( housing starts and building permits). An absence of econ data naturally increases uncertainty. In and of itself, uncertainty is good for the bond market , but investors will still have access to a few other economic reports that could help form a consensus about what the economy might be doing. Of those, the only reports on this week's calendar with any market-moving history worth mentioning are the Philly Fed Index on Thursday and Consumer Sentiment on Friday. To put their past market-movement potential…(read more)

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