MBS Day Ahead: Last Lull Before Things Get Serious

Posted To: MBS Commentary

Come Wednesday, we will have entered the final approach to Friday morning's NFP release as ADP and ISM Non-Manufacturing data are likely to set the tone. Between now and then, however, there's relatively little on the calendar. Today's only data release that isn't always a complete non-event will be Factory Orders at 10am, and you know what they say about Factory Orders! (It's always a complete non-event). In the meantime, what can we say about the way bond markets have been trading? It's been pretty darn good, which is both promising and scary. Actually, to be fair, it began looking promising a few weeks ago , but has only gathered steam since then. For those of you who are into the moving averages, 10yr yields broke decisively through the 100-day yesterday, thus giving…(read more)

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Source: Mortgage News Daily

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