monthly macro monitor key trends for the agency mbs investorMAY 2026 Volatile Geopolitical Backdrop and Energy Crisis: The global geopolitical backdrop remains volatile as the Iran conflict enters its fourth month. Global energy prices remained significantly elevated in May as a result of the continued closure of the Strait of Hormuz. Employment: Key employment measures released in May were generally strong. U.S. nonfarm payrolls (NFP) increased month-over-month, albeit at a slower pace than…
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