MBS Day Ahead: Still Waiting on Some Data, But FOMC and Jobs Will Carry Weight

Posted To: MBS Commentary

The mighty Employment Situation (the big jobs report that gives us nonfarm payrolls, unemployment rate, avg hourly earnings, etc) is the king of all economic data in terms of market movement potential. It doesn't always make waves, but if we could only bet on one report making the biggest, most frequent waves on average for years and years into the future, this would be it. As such, it's a good thing that the report was never affected by the shutdown (the Labor Dept had its funding approved). If the jobs report is the star of the show, there are several key supporting actors that HAVE been affected by the shutdown--reports like Durable Goods, Retail Sales, GDP, New Home Sales, and Incomes/Outlays. At the start of this week, we still don't know when we're going to see these reports...(read more)

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