MBS CLOSE: Tomorrow’s The Big Day
ByPosted To: MBS Commentary
Lot's Going On Tomorrow: MBA purchase applications at 7am ADP Employment at 815 Treasury Refunding Announcement at 900am as well as the 30yr bond announcement specifically ISM Non-MFG Index at 10AM 3's and 10's announcement at 11AM FOMC announcement at 215pm It might not look like nearly as important of a day tomorrow as it actually is… Of course we've been talking about the FOMC announcement and I think its significance is largely understood. But it has some nuances and some interconnection with today's losses as well as the refunding announcement tomorrow that add complexity, uncertainty and potential for movement. Fill in the rest of the day with the increasingly "looked at" ADP report and the veritable cornerstone of tier 2 econ data, ISM Non-MFG, and you…(read more)