Posted To: MBS Commentary

Bonds Start Strong After Playing Defense Last Week Last week was clearly a defensive shift for the bond market. Yields asymptotically approached 0.79% but managed to find support at that technical ceiling. As the new week gets underway, it looks like Traders may have just been waiting to buy at that supportive ceiling until after the 3-day weekend. Both Treasuries and MBS are noticeably stronger to start, but there's more ground to (re)cover if we want to get back in the previous range (sub 0.72% 10yr yield). MBS have broadly outperformed in recent months and are still technically in the sam trading range since early July. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Consumer Price Index (Core, y/y) 1.7 vs 1.8 f'cast , 1.7 prev Market Movement Recap…(read more)

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Source: Mortgage News Daily