Posted To: MBS Commentary

Lots of Indecision, But The Outcome Should Make Sense Both stocks and bonds are trading sideways after taking a step back from their early June momentum. This indecision reflects uncertainty about economic reopening vs rising covid case counts. As soon as a clear winner emerges, markets (and rates) will move accordingly. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying GDP (Q1) ( -5.0 vs -5.0 f'cast/prev) Jobless Claims ( 1.48m vs 1.3m f'cast) 1.54m prev Continued Claims (19.52m vs 19.96m f'cast) 20.28m prev Durable Goods (15.8 vs 10.9 f'cast) -18.1 prev Cap-Ex ( 2.3 vs 1.0 f'cast) -6.5 prev Market Movement Recap 08:15 AM Stocks and bond yields fell overnight amid a general "risk-off" trade. B Relative to yesterday's bigger move, the overnight…(read more)

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Source: Mortgage News Daily