Posted To: MBS Commentary
What do I mean when I say 'serendipitous' market movement? In general, this is just another way to say "that's the way the ball bounced, cookie crumbled, etc." It tends to apply to days like today that tick several boxes on the scorecard of irrelevance . Summertime trading day--especially in August? Check. Movement happened Monday morning and then fizzled? Check. Nothing significant on econ/event calendar? Check. No obvious reactions to news headlines or other intraday updates? Check. Very light volume and liquidity? Check and Check. With all of the above in mind, this morning's gains don't require too much investigation. Considering they began right at the 8:20am CME open, we can be reasonably assured that traders were lined up to buy and simply waiting for the...(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 https://ift.tt/2MnPa3I
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