MBS RECAP: Exceptionally Quiet Day; More of a "Pass"

Posted To: MBS Commentary

In the magical sharing circle that is global financial markets, the “talking stick” was passed to bonds, as it is every day. But rather than share a magical story, bonds simply said ” pass .” And that’s about as riveting as any honest assessment of today’s trading can be. For those who are into looking at market movement under a microscope , there are a few other points to cover. First of all, we had Japan coming back to work today after yesterday’s Marine Day holiday. Word on the street is that Japan was an active buyer of Treasuries in the early overnight session–relative to everyone else who didn’t have the day off yesterday. This amounted to a modest bump to start the day and from there, weakness in other markets (like stocks and oil) helped drive some…(read more)

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