Posted To: MBS Commentary

Drifty Day, Treasuries Hold Weekly Gains, MBS Underperform. With a strong move last Friday, the bond market was able to end the week at slightly stronger levels than those seen at the end of the previous week. This is more readily seen on the Treasury side of the market where yields were under 1.26% at the 3pm CME close versus roughly 1.30 on Friday afternoon. MBS underperformed, ultimately returning to 'unchanged' levels in the 4pm hour even as Treasuries remined slightly stronger on the day. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm NY Fed Manufacturing 18.3 vs 29.0 f'cast, 43.0 prev Market Movement Recap 08:54 AM Slightly stronger overnight on weakness in Asia. Slight rebound toward weaker levels in Europe, but 10yr still down on the day (-1.6bps) at 1.267%. MBS are…(read more)

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Source: Mortgage News Daily