Posted To: MBS CommentaryHave you heard? The Fed announcement is coming up on Wednesday. While you’ve undoubtedly heard about that more than a few times (unless this is your first day here, in which case, welcome!), it continues to bear repeating, largely because bonds aren’t doing anything to suggest they care about anything else. In fact , we can’t even be sure they will care about what happens on Wednesday, but that’s certainly the best guess at this point. All of the above ALMOST had a caveat today as there was some early volatility surrounding comments from European Central Bank President Mario Draghi. In short, Draghi was hawkish. He talked about inflation increasing “vigorously,” but this was ultimately a bigger deal for European bond markets than for US Treasuries and MBS. Bonds ended…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.