The U.S. labor market continues to slow with the economy adding just 50,000 nonfarm payroll jobs in December, according to data released Friday by the U.S. Bureau of Labor Statistics (BLS). In addition to the modest jobs gain, the November jobs number was revised downward to 56,000, which is 8,000 below the previous estimate. The […]
Modest jobs gains in December signal even cooler labor market Read More »
On a week where the mortgage market was most likely to experience volatility due to Friday’s jobs report, Thursday afternoon’s surprise announcement of $200bln in GSE MBS (mortgage-backed securities) buying stole the show. This was already juicing the underlying MBS market yesterday afternoon, but traders took the surge to the next level this morning. This
Rates Plummet to 3 Year Lows, But There Are Caveats Read More »
If it comes to fruition, President Trump’s call for a $200 billion purchase of mortgage-backed securities could further tighten MBS spreads in the near term. But with few details available, many market participants are skeptical about the longer-term impact. Processing Content In response to the president directing his representatives to purchase an equal amount of
Trump’s $200B MBS idea tightens spreads, raises doubts Read More »