Posted To: MBS Commentary
Until the onset of brinksmanship with North Korea and the appearance of big, back-to-back Hurricanes, financial markets were more focused on long-term policy-related risk. In terms of monetary policy, traders are keen to feel out the particulars of the European Central Bank's strategy when it comes to dialing back its asset purchases--something they'll ostensibly be discussing tomorrow for the first time. Meanwhile, Fed speakers have grown increasingly dovish , prompting traders to wonder if there will even be a rate hike in December. In terms of fiscal policy, market participants have had to account for the possibility that some form of tax reform is accomplished. Stocks really like that, even if all they have is the "possibility." We could pretend like these disparate motivations...(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/2eFCfew
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