Posted To: MBS Commentary
Quite simply, markets are waiting for the last 3 days of this week before gleaning any “takeaways” about the current state of financial markets, the economy, inflation, or Fed policy. Everything over the 1st 2 days of the week has therefore amounted to a pre-game show –and not a very exciting one at that. For the most part, bond yields have held inside the same trading range seen since last Thursday morning, although they did begin to test a break lower after today’s 3pm close. Officially, however, yields closed above the 2.362% floor that’s been intact for 4 days now. With market participants fully aware of the absence of actionable calendar items on the first 2 day of the week, it hasn’t been too surprising to see lighting trading conditions in terms of volume and volatility…(read more)
Via:: MBS RECAP: Volatility in a Micro Range Thanks to Quiet Conditions
