Posted To: MBS Commentary

The big news at the end of last week was Trump's decision to veto the defense bill (which, in turn, meant a veto of the broader stimulus/spending bill). That meant Congress would have the chance to make adjustments or override the veto today, but Trump saved them the trouble last night by signing. With that confirmation out of the way, bonds had just a bit more selling to do, but trading levels remain in the prevailing ranges. The remainder of the week will be similar to last week. In terms of trading hours, it's a carbon copy with Thursday being an early close and Friday a market holiday. There are three differences though: 1 . Whereas we could assume we were seeing some early month/year-end trading last week, it's even more likely to cause a few distortions this week. This isn't…(read more)

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Source: Mortgage News Daily