Posted To: MBS Commentary

Logical Reaction to Data Sets Stage For Interesting Week The week began with bond markets reacting to weaker economic data with a logical rally. That's the sort of quintessential connection that's been fairly elusive for most of the post-pandemic era. Last month's super strong jobs report (and subsequent bond losses) suggested that trend may be changing. Today's initial confirmation adds to expectations for more of the same as the week continues. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm ISM Manufacturing 60.7 vs 65.0 f'cast, 64.7 prev Employment index 55.1 vs 65.1 f'cast, 59.6 prev Construction Spending 0.2 vs 1.9 f'cast Market Movement Recap 08:34 AM A drop in covid cases and decent data in Europe pushed yields higher overnight. Treasuries followed somewhat…(read more)

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Source: Mortgage News Daily