Posted To: MBS Commentary

A Small Risk in a Pile of Good News For rates and the bond market, the news has been almost exclusively good for weeks-to-months. Most recently, we've seen lower lows than ever and spent more time remaining in that range than any past trip to all-time lows. In other words, we would typically expect a bounce by now. Interestingly enough, there is a very small hint at such a bounce emerging. While it's too soon to worry about it, it's not too soon to keep an eye on it. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Existing Home Sales 4.72m vs 4.78m f'cast , 3.91 prev Market Movement Recap 08:33 AM Socks and bonds yields were both slightly lower overnight. The biggest move followed news about the closure of the Chinese consulate in Houston …(read more)

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Source: Mortgage News Daily