Posted To: MBS Commentary

Bonds Sell Rumor, Buy New on Inconsequential Fed Minutes A lot has happened in the past 3 months–especially when it comes to the variables that could impact Fed policy going forward. This made any massive reaction to today's Fed Minutes a long shot, but it's always good to be prepared for some volatility when it comes to the Fed. Traders prepared by selling bonds ahead of the 2pm release. When the minutes proved to be every bit as docile as they might have been, there was a quick shuffle back into yesterday afternoon's trading range and that was that. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Housing Starts 1.534m vs 1.600m f'cast, 1.643m prev Building Permits 1.635m vs 1.610m f'cast, 1.594m prev Market Movement Recap 09:00 AM Slightly weaker overnight as Asian…(read more)

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Source: Mortgage News Daily