A somewhat tepid response today
to the governmental shutdown with Treasuries selling off slightly
(~2bps). Mortgages have tightened, especially in the discount coupons and
longer maturities (i.e. 30 years versus 15 years) as expected. However,
all-in-all, the response is muted perhaps reflecting the market’s perception
that the government shutdown will be short-lived and a relative non-event.
Tradex Global Advisory Services, LLC
investorrelations@thetradexgroup.com
203-863-1500
@Tradex_Global
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