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MBS RECAP: Suddenly, Bonds May Be Back in Business
Posted to: MBS Commentary
Thursday, October 31, 2019 5:59 PM
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Most of the month of October was rotten for the bond market. Material progress on the trade deal, a leveling-off of economic data deterioration, and fears about a major shift in the Fed’s policy stance all did damage (among other things). Now in the past 2 days, we have a slightly less sinister take on the Fed, the trade deal being called into question, and a new cause for concern in one of the “early indicator” economic reports (today’s Chicago PMI).
Overnight gains came swiftly on the trade deal headlines and bonds didn’t seem shy about maintaining the…
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