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MBS Week Ahead: Focus Shifting Back to Econ Data–Especially Friday’s NFP

Last week’s theme was simple: sell bonds until hearing what Fed Chair Powell had to say in his Jackson Hole speech, then buy bonds when Powell simply reiterated his previous stance.  Some of that buying has carried over into the new week, but the broader sideways trend remains. 

Markets are now free to do what Powell told them to do: focus on the economic data for additional confirmation about “substantial further progress.  As far as the Fed is concerned, it’s really only the labor market that needs to improve in order to meet tapering goals.  This is an informative …

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