Posted To: MBS Commentary

2 Wild Weeks That Mostly Cancel Each Other Out What a difference a week makes! Last week, the order of the day was to lament the negative momentum shift that took bond yields up and out of established ranges. Now we're already in a position to confirm a return to those ranges. Today's weakness does little to change that. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Consumer Sentiment: 78.9 vs 75.0 f'cast, 72.3 prev Market Movement Recap 08:19 AM Bonds were weaker overnight almost in perfect unison with stock market strength. 10yr yields are starting out 3.5bps higher (inconsequential in the recent context) and UMBS are less than an eighth of a point weaker. 09:46 AM A bit more weakness as stocks moved higher at the NYSE Open. Nothing major in the bigger picture…(read more)

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Source: Mortgage News Daily