The Day Ahead: Little More than an Opening Act for Fridays NFP

Posted To: MBS CommentarySometimes opening acts are surprisingly entertaining, or perhaps even moving. But more often than not, the headliner is what you came to see and the opener is less than memorable. Such is the case with Thursday and Friday. On any other week, todays line-up of economic reports borders on impressive, but now that weve seen just how silent and sideways bond markets were willing to be when all was said and done with GDP and FOMC, its clear theyre not waiting with bated breath for the Jobless Claims, Incomes/Outlays, or Chicago PMI reports this morning. Referring to Wednesdays session as "sideways" requires a bit of clarification. There was actually an extraordinary amount of volatility intraday, and it was only by virtue of closing levels being relatively in line with Tuesdays closing levels...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.http://www.mortgagenewsdaily.com/mortgage_rates/blog/293764.aspx @ uwad.com