MBS RECAP: Popular Reprices as Bonds Surge Into August

Posted To: MBS Commentary

Was it ” new thirty day period ” buying and selling? Or was it a reaction to abysmal income information from GM? Does it subject if the web influence was a nice shift lower for costs? Sure and no… This early morning&#039s industry movement was challenging business enterprise for the reason that the GM information happened ideal at the nine:30am NYSE open . Currently being the initial working day of a new thirty day period, we could effectively assume some tradeflow volatility at the opening/closing bells. In other phrases, bond ETF buying and selling at the NYSE open could have contributed to the nice rally this early morning. To be absolutely sure while, the GM income information caught the industry&#039s notice. Revenue weren&#039t just lower, they ended up fifteen% lower as opposed to previously downbeat forecasts contacting for an 8% fall. What’s more, inventory numbers moved to the maximum stages considering the fact that 2009 (104 days compared to an typical working day count that&#039s…(study additional)

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