MBS RECAP: Widespread Reprices After Lockhart Comments

Posted To: MBS Commentary

Atlanta Fed President Dennis Lockhart is a pragmatic and reasonable member of the FOMC. He doesn't consistently grind an axe in the same way that several other Fed speakers can, instead adapting to the situation at hand as it changes. In my view, he's one of the best Fed speakers to pay attention to for these reasons, or at the very least, not one to be ignored. Markets certainly didn't ignore him today when the following wires came out from Dow Jones: DJ – LOCKHART SAYS 'SIGNIFICANT DETERIORATION' IN DATA WOULD CONVINCE HIM TO PUT OFF RATE INCREASE DJ – LOCKHART SAYS SEPTEMBER COULD BE 'APPROPRIATE TIME' TO LIFT INTEREST RATE DJ – ATLANTA FED'S LOCKHART SAYS FED IS 'CLOSE' TO BEING READY TO RAISE SHORT-TERM RATES Any time a Fed speaker references a FUTURE…(read more)

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Source: Mortgage News Daily

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