Where We Are, Where We Might Be Going, And How We Might Get There
Where We Are, Where We Might Be Going, And How We Might Get There
Abstract
The first day of September found a way to be just as terrible as the last day of August. Domestic traders were calm at first, but then began to unload a few minutes before the 8:20am CME open. Upbeat labor market data added to the weakness more than it otherwise would due to the proximity of tomorrow's NFP as well as the elevated importance of employment metrics. MBS has picked up a few more ticks. 10yr yields have been flat all afternoon. The day is still down a few fewer ticks, but up a quarter point on the day, but at least that much from the day.
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