Posted To: MBS Commentary

Due to the holiday-shortened work week, today's economic calendar is empty and Wednesday's was about as clogged as it ever gets, with the following reports all within the space of 90 minutes (except the early bird mortgage application data): MBA mortgage apps Jobless Claims Durable Goods GDP (2nd update for Q3) PCE inflation Pending Home Sales Crude Oil Inventory 7yr Treasury Auction Chicago PMI It really doesn't get any more action-packed than that, but in the bigger picture, bond markets couldn't care much less. The trade war won't be resolved this week. The several-months-worth of economic data required to confirm a major shift in economic momentum won't be released for–well… several months. Trading motivations are a bit different due to the confluence of month…(read more)

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Source: Mortgage News Daily