MBS Day Ahead: There Are Only So Many Ways To Say It

Posted To: MBS Commentary

Unless you've missed the past few days of commentary, you've heard me say something about the sideways uncertainty in markets as investors wait for a government shutdown resolution. There are only so many ways to say it. So I'll let someone else say it this morning. The following is from the head of US Rates Strategy at BMO Capital Markets, Ian Lyngen: "Treasuries are in a classic holding pattern as we await further clarity on a variety of fronts. The government shutdown remains front and center, if for no other reason than the dearth of economic data the closure has created and mounting concerns the stalemate will impact the real economy." It can't be said with much more clarity. Even if we want to argue the shutdown, itself, isn't a major market mover, it's...(read more)

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