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MBS Day Ahead: Bonds Thinking About a "Lead-Off" Ahead of Thursday

Posted To: MBS Commentary

It remains the case that Thursday is the focal point of the week, with European Central Bank (ECB) President Mario Draghi set to tell reporters how far away we are from a tapering announcement. Tapering is understandably a highly-charged topic, given how it played out in the US in 2013. Draghi is aware of the damage to financial markets and financial markets are aware that Draghi’s aware. As such, they aren’t expecting him to carelessly obliterate global bond markets. In fact, they’re not expecting him to make much of a firm indication about what’s going to happen in the future just yet–at least not in terms of actual dates or dollar (Euro amounts). In other words, he’s increasingly seen as threading the needle that keeps tapering on the table, but that causes minimal panic…(read more)

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Source: Mortgagenewsdaily

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