MBS Week Ahead: Light Data, But NFP Friday–Will it Matter?

Posted To: MBS Commentary

Last week saw economic data take a definitive back seat to Fed speeches –particularly Tuesday's comments from NY Fed President Dudley. It wasn't that Dudley said anything that other Fed speakers hadn't. Rather it was a combination of factors. First and foremost, Dudley has always been pragmatic, level-headed, and balanced in his assessment of upcoming policy potential. His comments are infrequent and rarely convey a strong bias. This time, not only was there bias, but it was worded rather decisively–as if to say that there is already strong consensus within the Fed's inner sanctum. He specifically referenced the "case for tightening" being "a lot more compelling" than it had been. 2 weeks earlier, he had still been expressing a bit of lingering uncertainty…(read more)

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Source: Mortgage News Daily

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