MBS Week Ahead: "Vacation Week" For Bond Traders, But Housing Data Could be Interesting

Posted To: MBS Commentary

Have you noticed a few more email auto-responses starting late last week? Summer travel season is in full swing and this week is an especially good "out of office" target for bond traders. Why? There just aren't any of the normal big-ticket events (Central Bank announcements, major econ data, month-end trading days, or major scheduled global events). Granted, this past weekend's failed coup in Turkey had the potential to throw a wrench in the works as far as a lack of important events, but we're quickly seeing this morning that it seems to be blowing over as far as markets are concerned. When traders are out of the office--mentally or otherwise--the "auto-pilot mode" is engaged. This can take several forms, but it almost always involves an increased reliance...(read more)

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