Why Can't Rates Break the Range? Major Commitment Needed.

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Posted To: MBS Commentary

Good Morning. Happy Dataless Friday! I bumped into my Petro man this AM. These are the guys who fuel your furnace with heating oil. I took the opportunity to do a little "research" and asked him how he's been treated by customers lately. He was quick to respond. BAD. He's been getting heckled quite a bit lately apparently. Poor guy. Don't shoot the messenger! Just goes to show you how tight the fiscal situation is on Main Street. The margin squeeze is on. Anyway there's an update on my "misery index". The econ calendar is empty today. Besides earnings releases, the only other notable event on the market's honey do list is a Fed open market operation at 10:15. The Fed's trading desk will lift an estimated $7-9 billion in Treasuries maturing between 2/15/2018 and 11/15/2020. These are "rate sheet...(read more)

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