MBS Day Ahead: Fed Minutes and Auction Cycle Make Up For Slow Data

Posted To: MBS Commentary

It's another slow week for bond markets in terms of pure "economic data." The only relevant reports are Existing Home Sales (Wed), New Home Sales (Fri), and Consumer Sentiment (Fri). None of these are especially reliable market movers, and Consumer Sentiment is mainly important due to its inflation expectation component (one of the things the Fed admits to watching). Economic data is just one subset of calendar events. Fed communications and Treasury auctions are in their own categories. Both show up this week. Wednesday's 2pm release of the FOMC Minutes (a more detailed account of the Fed's conversation that culminated in the statement we saw on Feb 1st) is probably the biggest potential market mover on the calendar. The Fed didn't make any material changes at that…(read more)

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MBS Day Ahead: Fed Minutes and Auction Cycle Make Up For Slow Data
MBS Day Ahead: Fed Minutes and Auction Cycle Make Up For Slow Data

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