Posted To: MBS Commentary
How many ways could bond market weakness have been justified today? Shall I count the ways? GDP +3.2 vs +3.0 forecast and +2.9 previously Business Inventories only added 0.49% to the GDP total (a higher amount could serve as a counterpoint to the strong GDP reading. Consumer Confidence +107.1 vs +101.2 (a big beat). Other components of Confidence numbers were strong Stocks, European bond markets, and the prevailing trend all argued for weakness Corporate bond issuance has ramped up (adds pressure to Treasuries for these reasons ). Yesterday was good, and are we even allowed to have 2 good days in a row anymore?! That laundry list of negative justification had to face off against a seemingly inferior team of positive anecdotes. Investors are fretting over tomorrow's OPEC meeting and oil...(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/2fJcxnc
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