Tuesday , 26 January 2021

MBS Day Ahead: Slow Week For Domestic Data; Big Week For Europe

By Matthew Graham

Posted To: MBS Commentary

After trading in a narrow channel for the first three quarters of 2014, bond markets became increasingly volatile. The first three weeks of 2015 have seen some of the biggest moves in the longer term trend. Apart from being a factor of traders repositioning into the new year, we can also safely assume that a good amount of the volatility owes itself to expectations for one of this week’s events. The event in question is the ECB Announcement and press conference on Thursday. This dwarfs the week’s domestic economic data in terms of market moving potential. The reason? This is the first ECB meeting that’s seen as more likely than not to produce an actual quantitative easing announcement. The ECB already has a bond buying plan they don’t use, but it’s not actual QE. This would…(read more)

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