MBS RECAP: Market and Rate Sheet Apathy Bordering on Comical

Posted To: MBS Commentary

This is coming out a bit earlier than normal, and I promise to revise and/or put out another recap if by some miraculous turn of events, bond markets exhibit signs of life in the next 2 hours. Actually, to be fair, most analysts/traders/etc. mark the end of the bond market trading day at 3pm ET, so technically, we're good. There was a lot of economic data this morning. The 8:30am lineup had a temporary and logical effect on trading levels. The key offender was the stronger "capex" in the Durable goods data (officially: "non-defense capital orders excluding aircraft") came in noticeably stronger than expected. That's one of those slightly-off-the-beaten-path, bellwether indicators that market participants are fond of. Bonds weakened accordingly. The 10am data highlight…(read more)

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MBS RECAP: Market and Rate Sheet Apathy Bordering on Comical
MBS RECAP: Market and Rate Sheet Apathy Bordering on Comical

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