Posted To: MBS Commentary
Today's economic data consisted only of Chicago PMI (sometimes a decent market mover) and Pending Home Sales (rarely a noticeable market mover). It also suffered from the fact that it was a Monday during the middle of summer--meaning that participation levels among traders were lower than normal. Volumes ultimately made it up to nearly average levels, but that's low for a month-end trading session (nearly a quarter of the day's volume happened in the 5 minutes between 2:58 and 3:03pm, surrounding the 3pm CME close--the closest thing the bond market has to an official 'closing bell.' The volume didn't bring any volatility along for the ride. Rates rose modestly in the morning, largely following European markets (thanks to stronger Eurozone inflation data). EU bonds reversed...(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/2wf20Jd
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