Posted To: MBS Commentary
It goes against the grain of conventional summertime market wisdom, to some extent, to have so much focus on any piece of economic data as "making or breaking" a long-term trading range in markets. Typically, the lighter participation in the summertime Mondays and Fridays means that we might not be witnessing bonds lock in their "final answer" on the day of the data itself. I'll admit, even I had been skeptical about the market moving potency of today's NFP. After all, we already know that job growth has been strong and that the Fed's main hang-up is inflation in conjunction with "productivity" as a supporting player. What could we even learn from a jobs report that would significantly inform their decision-making process? But traders are home (for...(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/2bYeBd7
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