Posted To: MBS Commentary

10yr Auction Easily Helps Rates Hold The Range. What Next? Today's 10yr auction was exceptionally strong. In fact, by the time we consider the fairly epic levels of corporate bond issuance and the looming ECB announcement, the auction was actually stronger than the already-strong stats suggested. Actual trading levels did a good job of splitting the difference with yields most of the way back to last week's range. The best that can be said about all of the above is that the auction helps reinforce the broader range (where 1.37+ is a ceiling level), but that the range will be re-assessed yet again on Thursday morning after the ECB announcement. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 09:00 AM Bonds improved overnight amid a risk-off trade led by Europe…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: Mortgage News Daily