Posted To: MBS Commentary
Bonds Leveling Off But Not Out of The Woods Bonds began the day with a test of the important technical ceiling at 1.37% in 10yr yields. With some help from geopolitical risk due to bombings in Kabul, bonds managed to stay fairly calm with the 10yr just a hair better than 'unchanged' at the 3pm CME close. MBS also found their footing and were 2 ticks (0.06) higher at the same time. We're not out of the woods yet though. Tomorrow brings Fed Chair Powell's Jackson Hole speech in the afternoon. More than a few traders moved to the sidelines this week for this event. They're ready to jump back in based on what Powell says (as either buyers or sellers). Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 353k vs 350k f'cast, 349k prev Q2 GDP (1st revision) 6…(read more)
Source: Mortgage News Daily
