Posted To: MBS Commentary
Before it even began, today was set to be a challenge for bond markets. As discussed in an earlier update on MBS Live , Treasury yields rose sharply in the overnight session with the most common justification being today's imminent announcement of Trump's tax reform plan. But the fact that stocks haven't taken part in the move to nearly the same extent--not to mention the slightly bigger move seen in European bond markets--suggest tax reform isn't the only story today. Nonetheless, it's the story that nearly every market participant is discussing. Details have been leaked to such an extent that the announcement itself could be fairly anticlimactic. Not only that, but the trading day will be nearly over before Trump even begins his speech in Indianapolis (Air Force One scheduled...(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/2y82vtQ
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