Posted To: MBS Commentary

Bonds Sell-Off, But MBS Outperform The week began decently enough with bonds holding most of last week's gains during the first 90 minutes today. Things began to go south after the 9:30AM NYSE open as bond yields followed stocks higher. 10yr yields rose roughly 8bps by the 3pm CME close to hit 1.43+. In terms of price, that's a loss of roughly 3/4ths of a point. Contrast that to MBS losses at the same time of only an eighth of a point and the outperformance becomes very clear. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm Market Movement Recap 08:56 AM Moderately weaker overnight as risk assets bounce. Mostly flat after initial losses. 10yr up 3bps at 1.387 and MBS down an eighth. 11:41 AM Slipping slightly in the first few hours, largely in line with opening gains in stocks…(read more)

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Source: Mortgage News Daily