MBS Day Ahead: Slow Week Leaves Focus on Central Banks

Posted To: MBS Commentary

It's the middle of summertime, the middle of a month, and there's a light economic and event calendar in the US. These are prime conditions for traders to tune out and for markets to engage cruise control until there are more compelling reasons to tune in. Well, almost prime conditions… There are the small matters of major policy announcements from The European Central Bank (ECB) and the Bank of Japan (BOJ) both taking place this Thursday. In terms of underlying market movement motivation that the average citizen will never hear about, foreign central bank policy is about as big as it gets. The ECB, especially, has been a driving force behind rates being "that much lower" over the past 3 years (their final countdown to full QE began in the spring of 2014, even though bond…(read more)

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MBS Day Ahead: Slow Week Leaves Focus on Central Banks
MBS Day Ahead: Slow Week Leaves Focus on Central Banks

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