Posted To: MBS Commentary

Bonds Catch a Break From Downbeat Headlines; Fed Still in Focus Wednesday's Fed announcement is the biggest market mover remaining in 2020 for the average bond trader. The Fed is not going to change rates or the amount of bonds it buys, but there's at least some chance it will tweak the proportion of long-term vs short-term bonds. Whether it does or doesn't, bonds are planning to react. Today helped define the pre-Fed range–negatively at first, thanks to upbeat Brexit headlines. As the day progressed, stocks and bond yields dropped in response to news that NYC is at risk of a full shutdown. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:38 AM Weaker overnight. Vaccine approval set the tone early. Strong biz sentiment…(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