Posted To: MBS CommentaryBonds had a couple options to choose from today when it came to potential market movers. As far as known quantities, we knew there would be a speech from Fed Chair Powell (maybe he would clarify last week’s inflation comments?) and also a big corporate bond deal from Comcast. Neither of the ‘on-the-radar’ events had much of an impact. Maybe they would have had it not been for a moderate dose of Italian drama setting the tone in the overnight session. Simply put, the head of the budget committee in Italy’s lower house of parliament said Italy could only solve its problems if it left the Eurozone (i.e. just dropping the currency, not the membership in the EU). This resulted in a fairly noticeable rally in core European bond markets which then spilled over into US markets. It wasn’t…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631