MBS Day Ahead: Bigger-Ticket Data, but Real Motivation is Fed Prep

Posted To: MBS Commentary

Durable Goods at 830am and Consumer Confidence are bigger ticket reports than yesterday's New Home Sales The econ data won't have the final word on market movement bonds are preparing for the Fed in the bigger picture current levels are an approximate mid-point with Fed capable of doubling or erasing recent sell-off Bond markets continue playing defense with another day of modest weakness yesterday and an overnight session that didn't offer any meaningful push back to begin today's trading. Stocks and oil have been less directly-connected than European bond markets when it comes US bond market muses. What about economic data? With the sometimes important Durable Goods and Consumer Confidence reports out today, can we expect more of a reaction than seen with yesterday's arguably...(read more)

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