MBS RECAP: Fed Minutes Hurt MBS, But Not Quite As Badly As It Seemed

Fed Minutes Hurt MBS, But Not Quite As Badly As It Seemed Today's Fed Minutes offered a more detailed account of the meeting that took place 3 weeks ago. Markets expected there would be more to learn on the Fed's debate over its bond buying plan. They were not disappointed at the level of information, but MBS were a bit disappointed by the specifics. Prices fell moderately as a result, but at times, the losses looked much bigger than they were due to the illiquid trading conditions that are typical for the day before Thanksgiving. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 778k vs 730k f'cast, 748k prev Durable Goods Core CapEx 0.7 vs 0.5 f'cast, 1.9 prev Q3 GDP (1st revision) 33.1 vs 33.2 f'cast, 33.1 prev New Home...(read more)

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