Posted To: MBS Commentary
Bonds Battle Back After Slightly Weaker Start There are bigger-picture, thematic trends in the bond market and then there are incidental, day-to-day movements that simply pass the time. Monday was a prime example of the latter (i.e. not important in the bigger picture), but at least it ended with bonds at their best levels of the day. Yields rose overnight as they followed EU weakness. Most of the domestic session was spent pushing back in the other direction, but all of the above occurred in a narrow range. Bonds are biding their time between now and the bigger volatility expected in the wake of Wednesday's Fed meeting (and the inevitable tapering announcement). Econ Data / Events Fed MBS Buying 10am & 1130am ISM Manufacturing 60.8 vs 60.5, 61.1 prev. Market Movement Recap 08:32 AM…(read more)
Source: Mortgage News Daily
