Posted To: MBS Commentary

Thanksgiving week can't ever be fully trusted to provide an accurate glimpse of market momentum. In this year's case, it didn't really say much anyway. Bonds lost ground at first, but ultimately rallied back to unchanged levels on the week. Most of the move happened on Friday's abbreviated session, thus raising even more questions about the gains remaining intact this morning. So far, so good in that regard! Now we move on to digesting the typically active data calendar on the first week of any given month, culminating in Friday's jobs report. It's an interesting time for the relationship between economic data and the bond market. To be sure, the market-moving power of the econ data is "limited" at the very least, but there have been indications that it's…(read more)

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Source: Mortgage News Daily