MBS Day Ahead: Jackson Hole Day. Will it Matter?

Much has been made of the Fed’s Jackson Hole symposium in 2021 and in a general sense throughout the years.  On some years, the anticipation has proven to be well justified.  Other years, not so much.  This time around, there is indeed an opportunity for the Fed share to shift the signaling about asset purchases in one direction or the other, but while a volatile outcome is exceedingly possible, it’s not necessarily guaranteed. 

In fact, even if there is an apparent reaction today, the economic data and covid numbers would still have to play along in the…