MBS RECAP: Traders Running For Sidelines Ahead of Next Week's Election

Posted To: MBS Commentary

Traders Running For Sidelines Ahead of Next Week's Election Big losses in both stocks and bonds today as traders take their seats for next week's big show. Month-end trading volumes were huge. It was the single biggest trading day since June. After 2016, no one wants to be anything other than nimble on election week. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Core PCE Inflation, annual 1.5 vs 1.7 f'cast, 1.4 prev Chicago PMI 61.1 vs 58.0 f'cast, 62.4 prev Market Movement Recap 09:00 AM Mixed performance overnight amid heavy volume. Stronger in Asia. Weaker in Europe. Nearly unchanged to start the domestic session and slightly stronger since then. No reaction to data. A few big, obvious, month-end trades helping so far. 03:59 PM Bonds and…(read more)

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MBS RECAP: Traders Running For Sidelines Ahead of Next Week's Election
MBS RECAP: Traders Running For Sidelines Ahead of Next Week's Election

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