MBS Day Ahead: Are Bond Markets Reading From Same Scary Script?

Posted To: MBS Commentary

There are no significant economic reports or scheduled events on tap for today. This will give us an opportunity to feel out the new trading ideas, not only for the rest of the week (which ends with Friday's NFP), but for the month of October in general. It turns out that October is historically an interesting month for markets. If you've been following rate movements closely for more than a few years, it likely has a negative connotation after having been etched into your memory as a bad month for 5 straight years beginning in 2008. True, things changed in 2013, but recall that it took a big "reset" in the form of the taper tantrum to pave the way for the past 3 years of gradual improvement. The biggest question on every bond analyst's mind is whether the past 3 years...(read more)

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