Posted To: MBS Commentary

Fairly Balanced Day For Bonds and Fairly Balanced Outlook For Now This morning's commentary discusses the two "teams" facing off for control of interest rate momentum: Team "Rising Rates" versus Team "Not So Fast." Rising rates have been winning out since August (at least if you ask Treasury yields), but that may change if the economic recovery stalls. Today's ISM numbers were weaker than forecast, but at 58.7 (anything over 50 = growth), not quite weak enough to convince bonds of an imminent stall. Yields stayed sideways near unchanged levels. The labor market data later in the week should be even more closely watched. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm ISM Manufacturing 58.7 vs 60.0 f'cast, 60.5 prev ISM Prices 82.1 vs 77.0 f'cast…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: Mortgage News Daily