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MBS Day Ahead: Week's First Significant Economic Data as Bonds Build Ceiling

(Mortgage News Daily) - 3 months, 3 weeks ago
 Posted To: MBS CommentaryIt may seem a bit counter-intuitive to be talking up economic data in light of last week's bond sell-off. Friday saw weaker-than-expected consumer spending and sentiment as well as the lowest ISM Manufacturing PMI in more than 2 years. Nonetheless, bonds continued to weaken. Rather than read those events as a suggestion that "data doesn't matter," I think it's more fair to say that markets were preoccupied with other things--not the least of whic...
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