monthly macro monitor key trends for the agency mbs investorMARCH 2026 Geopolitical Tensions and Energy Markets: Geopolitical tensions in the Middle East escalated in March and drove significant financial market volatility throughout the month. The closure of the Strait of Hormuz drove a surge in oil prices, which is expected to have an ongoing inflationary impact. Employment: Key employment measures released in March were weaker than expected. U.S. nonfarm payrolls indicated that the U.S….