Posted To: MBS Commentary

Bonds Sticking to Year-End Script Bonds did a perfect job sticking to their year-end script today. It reads: "ZZZzzz…" MBS made some token gains during the AM hours, but not to such an extent that we should feel compelled to investigate. Treasuries were rallying at the same time as an upgraded stimulus package seems to be a non-starter in the Senate. The bond market's attention has already shifted to the far more significant Georgia senate run-off election day on January 5th. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Chicago PMI 59.5 vs 57.0 f'cast, 58.2 prev Pending Home Sales -2.6 vs 0.0 f'cast, -0.9 prev Market Movement Recap 08:56 AM Light volume and light liquidity led to Treasuries being pushed around just a bit in the overnight…(read more)

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Source: Mortgage News Daily