Posted To: MBS Commentary

Decent Day For MBS But Broader Trend Remains a Concern Rates are low. Unless coronavirus wins (or looks like it might), rates should continue to gradually move higher, but not in a straight line. Keep the underlying, gradual, uptrend in rates in mind on days where it seems like things are going well for bonds. Those can be great days to lock in this environment. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying New Home Sales: 676k vs 640k f'cast, 580k prev (+16.6%) Market Movement Recap 08:41 AM Bonds rally and fade overnight on Navarro's China trade deal comments (and retraction). Strong data in Europe fueled more weakness. 10yr starting out up nearly 2bps, but MBS are outperforming (trading just barely positive on the day). 11:37 AM Stocks slid and bond yields improved…(read more)

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Source: Mortgage News Daily