Posted To: MBS Commentary
ISM Non-Manufacturing was this morning's biggest potential market mover, but it came in very close to consensus. Moreover, its internal components somewhat offset each other in that the inflation ("prices paid") component was much weaker while the Employment component was much stronger. Both before and after the data, bonds barely budged, though they did begin the day slightly weaker due to overnight market movement. Volume totals in bond markets were roughly 2/3rds of the recent average. Apart from half-days and certain trading sessions in the middle of the winter holidays, that's about as low as it goes . In fact, using 10yr Treasury futures as a benchmark, today's volume was the lowest since Dec 28th 2016. That's not exactly what we'd expect on the Monday after...(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/2sL6Egu
No comments:
Post a Comment