MBS RECAP: Bonds Generally Hold Ground as Bigger Data Approaches

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MBS RECAP: Bonds Generally Hold Ground as Bigger Data Approaches

Posted to: MBS Commentary
Monday, July 31, 2017 5:19 PM

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Today’s economic data consisted only of Chicago PMI (sometimes a decent market mover) and Pending Home Sales (rarely a noticeable market mover). It also suffered from the fact that it was a Monday during the middle of summer–meaning that participation levels among traders were lower than normal. Volumes ultimately made it up to nearly average levels, but that’s low for a month-end trading session (nearly a quarter of the day’s volume happened in the 5 minutes between 2:58 and 3:03pm, surrounding the 3pm CME close–the closest thing the bond market has to an official ‘closing …

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