Posted To: MBS Commentary

Election years always bring increased uncertainty to financial markets–some more than others. This is definitely one of those years–not because of covid, but rather because full control of lawmaking by a single political party hangs in the balance. Bonds may indeed wait to make their next big move until they know the Georgia senate results. Between now and then, the year's last remaining economic reports and the success or failure of the $2000 stimulus upgrade may not be able to move the needle in any sort of alarming way, at least not at first. The risk –both to bonds and to GOP control of the senate–is that the stimulus upgrade narrative hurts the GOP senator's campaigns in Georgia. We all know to take polls with a grain of salt these days, but if the delta is any indication,…(read more)

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Source: Mortgage News Daily