MBS Day Ahead: Guaranteed Fed Rate Cut and Tons of Data
Posted To: MBS CommentaryIn the week just passed, bonds held a fairly narrow range with 10yr yields capped by a 2.10% ceiling. On the stronger side, they were generally unable to break below a 2.03% floor except briefly on the morning of the ECB announcement (before Draghi’s press conference sent yields ripping back up to the highs of the week.
All of the above amounted to range-finding ahead of a much more important week (this week!). In the week ahead, with the exception of Monday (today), bonds will digest a slew of the month’s most important economic data–the reports that always come out at the beginning of any given month. Economic data is tremendously important right now as the market decides if the economy is indeed slipping into ‘deceleration mode’ or perhaps on the cusp of some sort of second…
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