MBS RECAP: Have We Mentioned The Jobs Report?
Posted To: MBS Commentary
Have We Mentioned The Jobs Report? It seems that there's been more build-up than normal ahead of this month's iteration of the Employment Situation (aka the "jobs report"). Is that justified? Relative to the past year's worth, yes. In other words, it deserves more hype than the last one, but it's impossible to know how much hype until we see how markets react. Either way, this will be a common theme in the months ahead as traders try to pin down the post-covid economy. As for today, bonds moved to the sidelines–selling off a bit but still very central/sideways in the bigger-picture. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm ADP Payrolls 978k vs 650k, 654k prev Jobless Claims 385k vs 390k f'cast, 444k prev ISM Non-Manufacturing 64.0 vs 63.0 f'cast…(read more)