Posted To: MBS Commentary

With NFP coming out just slightly weaker than expected and the bond market not undergoing much of a reaction in either direction, the rest of the day becomes a relative non-event in the bigger picture. This is in the same vein as a much bigger anticlimactic de-escalation seen earlier this week with respect to the potential for war to break out in the Middle East. If such a thing had happened, bonds would surely have broken the lower boundary of the prevailing yield range. Since it didn't happen, here we are again… stuck in the middle. Without a war, or a major development on the US/China trade deal, the market will be forced to get back to the business of following along with economic data. That, too, is a challenge due to the lingering and uncertain impact on business confidence (and…(read more)

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Source: Mortgage News Daily