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MBS Day Ahead: First Real Trading Day of April; First Hopeful Month in a While

Posted To: MBS Commentary

Global financial markets are entirely open today for the first time since last Thursday, thus giving us a chance to see if this month's momentum will mark some sort of shift from the past 2 (which were both awful). With last Thursday being April 1st, that was technically the 1st day of the month, but many traders who were in a position to unveil some grand new strategy for the month would have instead waited for holiday-weekend illiquidity to pass, or at the very least, for Friday morning's NFP. In other words, today is the first full-fledged trading day of the new month, and a chance to finally pursue the momentum shift that has, thus far, proven to be a frustrating combination of logical, hopeful, and elusive. Are things different this time? Again, it's increasingly fair to HOPE…(read more)

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