Posted To: MBS Commentary

Has Everything Changed After Powell Speech? Powell's speech was the only Fed communication on the calendar today, but they surprised markets by dropping a policy change on their website. Suddenly, the journalistic coverage of today's Powell speech no longer seems insanely presumptuous. But did the Fed really say anything new? And if not, why are markets reacting like they are? We'll discuss this in today's video. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 1.006m vs 1.0m f'cast Q2 GDP (1st revision) -31.7 vs -32.5 f'cast Market Movement Recap 08:16 AM Moderately stronger to start after quiet overnight trading. Treasuries were unchanged until 3am, then rallied modestly with European bonds. Stocks are effectively unchanged…(read more)

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Source: Mortgage News Daily