The Day Ahead: Plenty of Data, But NFP Dominates

Posted To: MBS CommentaryBy the time we reach the Friday of an NFP week, theres little else left to say or do besides wait for 8:30am. Thats made doubly true this week due to the fact that the other potential big-ticket events did surprisingly little to move markets. The most likely suspect--the FOMC Announcement--actually ended up having less of an impact than some of the weeks top tier economic reports. That probably has a lot to do with fact that bond markets are guarded against the uglier eventualities of the week AS A WHOLE. This was evident last week when yields shot higher surprisingly quickly at the end of last week. At least we think it was evident. Reason being: most of the movement from the 1.8s to 2.0 in 10yr yields occurred in one day, on Friday. Take a look: There are a few interesting things going...(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/293975.aspx @ uwad.com