Posted To: MBS CommentaryThe frustrating thing about weeks that are normally vacation-heavy is that the resulting lack of volume and liquidity can leave bonds in a position to make quick, unprovoked, illogical movements… sometimes. Other times, the vacation-week gameplan is simply to keep bonds as close to unchanged as possible, with the intention of sorting things out after everyone gets back in the office. To make matters just a bit more uncertain, there are no economic reports until Wednesday and only one significant piece of data with Friday’s Durable Goods. We’ll also get Fed Minutes on Wednesday, but don’t expect fireworks considering the meeting itself produced a very bland policy announcement. Technicals are in agreement with fundamentals. Yields are grinding around in a sideways range in the…(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