Another light day but another day closer to D-day (lol).
Will the feds raise rates?
NO is my answer I do not think they will based on the timing as well as data.
Reality - does anyone know? NO
Fact - regardless of the decision we will all live and move forward so LOCK while you can as pricing is excellent and the gains are likely not worth the risk!
FNMA 3.0 coupon was basically flat all day and ended just a few bps above yesterdays close ending the day at 100.438
Here is today's data...
We have another quiet day on the economic calendar today ahead of tomorrow’s Wholesale Inventories and Wholesale Trade Sales reports. Treasuries rose throughout the day yesterday, amidst a sell-off in oil which plunged to levels not seen since early 2009, and this morning continue to hover just above yesterday’s 2:00 PM (PT) close level. The curve is slightly steeper this morning