Posted To: MBS Commentary
There have been and continue to be two distinct ways to view the past week and half. The first is to consider the weakness in stocks and the gains in bonds as the product of some profound concern over the global economic picture. Apparently, this was catalyzed by a weak Chinese manufacturing report on precisely the first business day of the year. Oh, and that report hasn't ever had quite that big of an impact on financial markets before. A bit coincidental, no? The other side of the spectrum is to consider the recent move to merely be incidental volatility surrounding the shuffling of old-year/new-year trading positions. We've focused more on the dramatic, cause-and-effect scenario described above, but let's not rule out the boring, potentially complacent viewpoint that sees everything...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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