Posted To: MBS Commentary
Today was a largely uneventful return from the extended weekend with bond markets doing very little to react to news or economic reports. Chicago PMI is hit and miss when it comes to moving markets, but certainly no stranger to the spotlight. At 48.7 versus a median forecast of 54.0, today's Chicago PMI was arguably weak enough that we should have seen a more noticeable response in bond markets. Instead, the morning's gains leveled-off just as the data was released. The rest of the day was spent drifting sideways to slightly stronger, resulting in a smattering of small, positive reprices. What can we glean from the absence of response to the Chicago PMI data? Nothing earth-shattering, but perhaps this helps us put the rest of the week in perspective. First of all, today was "month...(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/1Tp3jes
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