MBS RECAP: Holding Gains and Waiting For ECB

Posted To: MBS Commentary

Treasuries and MBS held steady today, consolidating yesterday’s gains and playing it safe ahead of tomorrow’s ECB Announcement. There really isn’t much buzz about what the ECB (European Central Bank) might or might not say tomorrow. The fact is quite simply that global central bank announcements are just about the only game in town when it comes to big-picture market movements. So any central bank announcement from one of the big 3 (US, Europe, Japan, and sometimes Great Britain) is a focal point for markets. It’s not so much about what they’re expected to say as much as it is about the fact that anything they say can and will be used against financial markets in a court of volatility. With all that in mind, it’s not too surprising to see a flatter day in bond markets…(read more)

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