Posted To: MBS Commentary
It was a fairly one-dimensional day for bond markets, and indeed, markets in general. Despite moderate strength in European bond markets overnight, US Treasuries remained unwilling to break below yesterday afternoon's lowest yields. Slight gains in equities futures didn't seem to be helping. The tone changed after the morning's release of GDP and Durable Goods data. While GDP is often able to be overlooked as "stale," today's release was the "advance," meaning it was our first look at Q4's numbers. They were slightly weaker than expected at 1.9 vs 2.2 forecast. The "final sales" component was even weaker (+0.9 vs +2.3), meaning business inventories accounted for more than half of Q4 growth. Durable Goods was more of a mixed bag. The headline...(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/2kchtrc
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