MBS Day Ahead: Medium Strong Jobs Having Expected Effect

By Matthew Graham

Posted To: MBS Commentary

My commentary took a bearish turn , essentially saying that bond markets had done what they could to price-in a poor NFP number and that anything outside a big miss would likely result in a push back into the recent range. I attached yesterday’s video as a refresher in case you missed it. And here’s yesterday’s recap, which is essentially a perfect Day Ahead if you simply add the conclusion: “unfortunately, all this is happening this morning”: I hate to say anything bad about bond market gains. Bond market gains are among a few of my favorite things, after all! I also hope I’m wrong in thinking today’s rally was “nice” enough to be questioned. I spelled out the reasons for this in detail in today’s MBS Live updates and the Huddle ( MBS Live members…(read more)

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