Posted To: MBS Commentary
Dashed Hopes For Bond Bounce After Trump Tweet Reversal Tuesday was going poorly for bonds until a Trump Tweet threatening to withhold stimulus until after the election sent markets into a tailspin. Hours later, Trump clarified that he'd gladly sign a bill for $1200 stimulus checks immediately as well as a $25bln bill for airlines and $135 bln for PPP. With that, yesterday's friendly reversal reversed and bond yields moved higher throughout the night. The trend remains unfriendly until proven otherwise. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 01:11 PM Bonds were much weaker to start the day following a "risk-on" overnight session in response to Trump's clarification on yesterday's stimulus tweets ( read…(read more)
Source: Mortgage News Daily
