MBS Day Ahead: Fed Hints at Brave New World... Maybe

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Posted To: MBS Commentary

There is no question that the Fed hinted at a brave new world for global interest rates in yesterday's Minutes release, but for most market participants, there is too big a question as to whether we ever see it. For me personally, it's vindication for my decision to increasingly go out on an analytical limb this year. Said limb is my thesis about longer-term endgame for rates being a global race to zero due to a confluence of factors including aging populations, declining birth rates, declining productivity, an absence of growth exponentiators (like the industrial revolution, globalization, or the proliferation of internet and ecommerce). Inconveniently, I don't know how quickly the race to zero will unfold (clearly Europe is already modeling the behavior, and Japan has been its...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/533618.aspx

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