Posted To: MBS Commentary

Sometimes the market moves in clear response to a headline event or the scheduled release of an economic report. We have clear examples of this recently. last week's Iran-related escalation (and de-escalation) had massive and immediate impacts that lined up perfectly with key events in the news. This week's most noticeable move followed perfectly on the heels of yesterday's big beat in the Philly Fed Index (an economic report that frequently moves markets when it's much better or worse than expected). Now today, we're seeing a similar level of movement but without any over cause and effect with respect to news or data. That said, there is still something to connect it to! Simply put, markets moved when a certain portion of the trading community began its day and when a certain…(read more)

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Source: Mortgage News Daily