MBS RECAP: Exciting Overnight Followed by Daytime Snooze-Fest

Posted To: MBS Commentary

Thank the overnight trading session for an anticlimactic day. It set a healthy range of highs and lows that daytime trading never managed to break. No sooner had yesterday’s session drawn to a close than newswires circulated regarding a “likely indictment” in the clinton email case. There wasn’t any specific mention of WHO, exactly, might be indicted, but it was nonetheless interpreted as damaging Clinton’s chances. At the moment, that which damages Clinton’s chances helps not only Trump’s, but also the bond market. Bonds weakened progressively from there, only stopping briefly to consider news that a British court ruled that Brexit required a parliamentary vote. Of course that won’t be the final word on the matter, the confused murmurs of “wait, you mean…(read more)

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