MBS RECAP: Bond Markets Hear Dueling Banjos From Europe and US; Weaker in the PM

Posted To: MBS Commentary

European and US headlines did their rendition of 'dueling banjos' this afternoon. On the European side, we had potentially fake news out of a country that may only exist in the movies and history books. The Prime Minister of Malta is cited as saying Greece could cancel the referendum if they can make a deal with creditors. Why we're hearing this from the Maltese PM is anyone's guess. On the US side, Fed Vice Chair Fischer (the respected one, not the crazy ex-Dallas Fed pres. who says "feral hogs" and "monetary cocaine") said that we're basically at full employment and that we have to hike sooner vs later because of a lag in impact of monetary policy. He went on to say the Fed would try to let us know when that's coming in order to minimize international…(read more)

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Source: Mortgage News Daily

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