Posted To: MBS Commentary

Markets May Be Underestimating Tomorrow's Jobs Report Today's trading session was rather uneventful for bonds except for the fact that it resulted in the 6th straight intraday high in Treasury yields. As discussed in the Day Ahead, this is right about the time that we begin to look for a technical correction simply due to probabilities of such streaks lasting more than 6 days. Unfortunately for probability, this particular streak collides with big jobs report tomorrow. Even though markets have seemed reluctant to react to econ data, the jobs report can always serve as a jumping off point for trading ideas and volatility. Beyond that, the consensus forecast is arguably low based on the other available labor market data. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims…(read more)

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Source: Mortgage News Daily