MBS RECAP: Heading Out Near The Highs of a Very Flat Week
Posted To: MBS Commentary
MBS Live : MBS Afternoon Market Summary This is the third Friday in a row where we’ve looked back on what we would have thought would be a much more active week. We’ve been operating on a series of “if/then” dominoes as far as market momentum is concerned. If things lacked conviction after the post-NFP correction earlier in the month, then we were waiting for the FOMC-related events this week. If FOMC didn’t motivate movement, then we’d look toward economic data in the form of today’s GDP. And if GDP didn’t stir the pot much, then next week’s NFP is really all we have left. The fact that it’s part of a “month-end” week that also contains a fair amount of other relatively important economic data SHOULD (and we feel like we have to emphasize that word now) give us some cues as to the next move…(read more)
