Posted To: MBS Commentary
While there are no significant scheduled events in play this morning, the afternoon hours bring the 10yr Treasury auction and the ” minutes ” from the most recent Fed meeting. These will provide a more detailed account of the conversation that took place in the Dec 18/19th meeting that resulted in the market-moving Fed announcement on the afternoon of the 19th. At the time, markets were hoping for a more dovish reading from the Fed. Specifically, stocks were mistakenly hoping the Fed might see its way clear to holding off on hiking rates or by including more conciliatory verbiage to sooth the nerves of equities investors. Bonds were simply participating in reality and were largely interested in the stock market reaction anyway. Today’s minutes release may offer a glimpse of increased…(read more)
Via:: MBS Day Ahead: Afternoon Events Could Set The Tone
