Posted To: MBS Commentary
First off, let me say that the extent to which bond market weakness over the past 2 days is being wholly attributed to the tax plan borders on ridiculous. There's something else going on here (several "somethings"), and I expect we'll find out more about those factors fairly soon. Why so ridiculous? Simply put, people who are giving the tax plan any meaningful credit as a market mover are failing to appreciate just how far away we are from actual legislation. Looked at another way, the sooner tax legislation happens, the less it would look anything like the plan being suggested. Bottom line, we have bullets points, goals, and a few remarks from Congresspeople saying they're interested in getting things done. Big deal! Is this resignation and indignance my way of whining...(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/2k5x3Gl
No comments:
Post a Comment