MBS Day Ahead: Starting The New Month in Good Shape

Posted To: MBS Commentary

The simple concept of timing is often underappreciated as a market mover. For instance, 820am and 3pm ET can often be sources of volatility simply because they are the opening and closing bells for Treasuries on any given day. The same can be true for end/beginning of a week/month/quarter/year. As such, the end of Q2 brought some risk, especially considering that both June and Q2 were good time frames for bonds. The following chart shows quarterly trends (red = bad, green = good, white = neutral). But the new month/quarter have started off uneventfully so far. If drama was guaranteed to accompany the calendar shift, we'd likely already know it by now. Either that, or traders are waiting for tomorrow's jobs report or the passing of the upcoming 3-day weekend before going all-in on their…(read more)

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MBS Day Ahead: Starting The New Month in Good Shape
MBS Day Ahead: Starting The New Month in Good Shape

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