Posted To: MBS Commentary
It used to be that the first Thursday of every month provided a fairly reliable chance of volatility . That was during the days when Europe was an even bigger mess than it is now and when the European Central Bank was holding a meeting on the first Thursday of every month. Depending on the ECB's policy stance, as well as the tone of the previous day (which always had ADP employment data and usually ISM non-manufacturing), bond markets were quite often already on the move heading into NFP Friday. Nowadays, the extent to which bond markets are 'on the move' is highly dependent on fluctuations in stocks and oil prices. That much is clear, but an emerging truth is that stocks and bonds are definitely reawakening to the importance of some of the economic data. The sensitivity to 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 http://ift.tt/20IAeyA
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