Posted To: MBS Commentary
The Fed confirmed they had an eye on probably concerns rate hike outlook was downgraded, as was growth They’re concerned about confirmation of labor market deceleration, Brexit, etc. They did nothing to attempt to sound like they were interested in hiking Bonds moved back in line with yesterday’s best levels It was a foregone conclusion that the Fed wouldn’t hike in June–at least if you asked anyone in the past few weeks. But there was still a risk that the Fed would say something silly to lay out some contingencies for a July rate hike. They did nothing of the sort and bond markets like that very much. The announcement itself was benign on the topic of impending rate hikes, and the rest of today’s Fed communications only helped fuel broader concerns about global growth and…(read more )