MBS RECAP: Underwhelming, Uneventful, Uninspired

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary The dreaded triple "U" score for bond markets today... The data was underwhelming and the trading on the session was uneventful as MBS cut an extraordinarily narrow range for an FOMC day. With the Fed announcement behind us, there's an even greater case to be made for a bond market that is generally feeling uninspired . Is it NFP that we're waiting for next week? Is it Europe? Is it the election? Is it month-end? How about a combo platter of all of the above? We don't know and we're not entirely sure markets know either, or perhaps Treasuries and mortgages are sort of biding their time with popcorn and lawn chairs watching the parade of earnings reports and gyrations in equities. Whatever the case, if we're going to see some sort of early indication that...(read more)

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