Posted To: MBS Commentary
2015's winter holidays are laid out nicely for financial markets. Both Christmas and New Years Day fall on Fridays. This makes it much easier to predict the ebbs and flows in market participation--an endeavor that can cause relatively more volatility when the holidays don't leave perfectly tidy chunks of 3.5 day work weeks. The net effect is that bond markets have had an easier job than normal of setting their cruise control. This refers to the minimal, non-opportunistic, and mostly necessity-based trading that trends to dominate the last 2 weeks of the year. Momentum continues to be almost perfectly flat. Markets will be completely closed on New Years Day and bond markets will close early (2pm ET) on Thursday. Given that there are no economic reports or events scheduled for Thursday...(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/1IyzqaP
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