Posted To: MBS Commentary
I wouldn't go so far as to say "the impossible happened today," but at the very least, we could call it "the improbable." A lot was at stake heading into today's NFP, or so it seemed. Just 2 days ago, the Fed reinforced our understanding of their game plan: they wanted to see a bounce back in labor market data in order to get back in the mood to hike rates. Things seemed pretty clear. A 265k vs 170k NFP headline seems like it would be more than enough to flip the switch for the Fed. I'm not saying that's all they need to hike at the next meeting--just that it should at least have reopened to conversation. And who knows? Maybe it will reopen the conversation for the Fed when they next meet, but one thing's clear: bond markets didn't trade that eventuality...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/29p2Rvc
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