Posted To: MBS Commentary

For all practical purposes, today is the last trading day of the year. In fact, based on volumes so far, today may actually be the first day of the winter holiday break. Either way, we've certainly passed to last of 2019's "high consequence / high significance" trading days. That doesn't mean we can't end up seeing some volatility over the next week and a half–just that any such volatility is much more likely to be the product of illiquidity and temporary factors as opposed to an indication of new, substantial momentum. As has been and will continue to be the case, the most viable market-watching strategy at this time of year is simply to keep an eye on the prevailing trends and react accordingly if they make a convincing case for a shift or breakout. There are at…(read more)

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Source: Mortgage News Daily