MBS RECAP: Bonds Bail Early For 3-Day Weekend

Posted To: MBS Commentary

Happy Labor Day weekend, everyone. Gotta close out some longs, but may jump back in on Tuesday. Cheers, Bond Buyers That’s the short version of today. It’s not much different from the long version. I suppose it would be considered poor form to not mention NFP after a week where some journalists and analysts went as far to call it “the most important NFP ever.” I’m proud to say I was fairly puzzled by that. The most credit I would have given today’s NFP was due to the fact that it happened to be occurring just as bonds are running out of room in their consolidative triangle (thus implying a greater likelihood of a salient reaction). But alas! Even with all the high stakes drama-mongering, this NFP reaction would be hard to pick out of a lineup with other market movers…(read more)

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