MBS Week Ahead: What Trade Deal? Bring On The Data!

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Posted To: MBS Commentary

In the week just past, bonds avoided a negative correction following the previous week's Fed-induced rally. There was plenty of back and forth, but it was all contained inside the range of yields seen on June 19th (Fed day). By the end of the week both stocks and bonds (but mostly stocks) were more and more willing to react to trade-related headlines as the G20 summit approached. Over the weekend, there was a so-called "trade deal" between the US and China. On the approach, this was something for fans of low rates to be concerned about, but not to fear. It wasn't as if the issues would be fixed in one day or even that the apparent fixing of the issues on paper would be worth much until the rubber met the road (i.e. we need to see what the practical effects are rather than…(read more)

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