Posted To: MBS Commentary

One of the side effects of holiday-shortened weeks is a condensed data schedule. That's especially true of Thanksgiving week as it essentially removes 2 days from the work week, even if the market is technically open for a half day on Friday. Wednesday morning marked the week's biggest glut of data with the headliner being the PCE inflation data at 10am. With PCE coming in as expected (4.1 vs 4.1 at the core level) and the rest of the data being relatively non-threatening for bonds, attention now shifts to the Fed's 2pm release of the minutes from the most recent policy meeting (3 weeks ago). The term "Fed Minutes" can cause confusion. After all, it's a key policy headline from the Fed at 2pm on a Wednesday (just like the "Fed Announcement" 3 weeks ago)….(read more)

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Source: Mortgage News Daily