Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Unlike some pre-NFP Thursdays, which start to exhibit some sort of "lead-off" in either direction, todays was poster child for " calm before the storm ." Actually, that would assume that tomorrows NFP creates a storm, so its not a perfect analogy just yet. On the other hand, today fits the "calm" requirement so well that almost anything that happens tomorrow would look like a storm by comparison. The calmness set in with a vengeance after bond markets shook off the last vestiges of directional movement after 10am. A brief Chicago PMI-related hiccup added a bit to the corrective momentum that was already in play after the much stronger than expected Personal Income report. Since then, weve been very sideways, in a very narrow range and are now heading...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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