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MBS RECAP: Stocks and Bonds Confirm Hyperfocus on Covid Outlook

Posted To: MBS Commentary

Stocks and Bonds Confirm Hyperfocus on Covid Outlook Coronavirus has been with us for so long and has caused such a huge paradigm shift that it's easy to lose sight of its importance as a day-to-day market mover. Periodically we see moves that reinforce the importance (like today) where both stocks and bonds are unequivocally responding to vaccine headlines. Despite overnight weakness, bonds were ultimately unfazed. A vaccine could prove to be a game changer, but all we have now are "promising developments" relayed by the people that own/create the vaccines. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) NY Fed Manufacturing: 17.2 vs 10.0 f'cast , -0.2 prev Industrial Production: 5.4 vs 4.3 f'cast , 1.4 prev Market Movement Recap 08…(read more)

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