Posted To: MBS Commentary

After the little bout of whipsaw volatility of the past 3 trading sessions, it will be a tall order for even the mighty NFP to move markets much tomorrow (as long as it's not insanely far from the forecast). Thank the trade war for that. Trade headlines took a big bite out of yields on Tuesday morning and subsequent headlines pushed back in the other direction about 24 hours later. But markets continued to move after that, and it would be very hard to chalk today's movement up to trade. Reason being, stocks and bond yields moved in opposite directions during the morning's most active trading. If trade were the driver, we'd see stronger correlation. The dark horse market mover isn't easily identified, but the best guess would be a simple move to the sidelines on both sides…(read more)

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Source: Mortgage News Daily