MBS Week Ahead: Slow Start, Then Action-Packed by Wednesday

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Posted To: MBS Commentary

Week gets off to slow start with limited data and events on Mon Tuesday brings several Fed speakers, but not much data Data ramps up by Wed with Retail Sales headlining Thu/Fri also have plenty of data as well as Fed speakers Bond markets have generally been rallying since the mid-March FOMC Announcement. The strength was unequivocally confirmed with the reaction to Yellen's speech in the following week, and gains were consolidated after last week's FOMC Minutes. In this context, " consolidation " refers to markets making it past a certain level, and then trading in the other direction, but not so much as to break back through that level. In the current case, that would be just under 1.76 in terms of 10yr yields. With the current week beginning on a slightly weaker note, we…(read more)

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