Posted To: MBS Commentary
It's a real dud of a day in terms of excitement on the event/econ calendar. There are no significant economic reports and no potentially market-moving Fed speeches (Mester speaks at 8pm--too late to move markets--not to mention that her stance wouldn't surprise anyone). This leaves financial markets to trade in an unencumbered void of influence, expressing their purest, intrinsic trading ideas and goals. On the Friday before a 3-day weekend, those goals may simply involve paring positions and retreating to the neutrality at the center of recent ranges. Just such a move is already underway for bonds from the overnight session. Normally, the developments in the chart would be more exciting, because we have yields breaking the midpoint of the range and fast stochastics shifting bullishly...(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/2lqguUQ
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