Posted To: MBS Commentary

It Could Have Been a Lot Worse Although the bond market definitely had its own reasons to weaken last Friday, stocks have been making big enough moves to complicate things. Simply put, we've had to wonder if bonds would be doing even worse if not for massive stock selling. Today, we got our answer. As a bond-bearish bonus, the 10yr auction was on the weak side as well. All that having been said, the damage could have been a lot worse. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:20 AM Bonds were initially stronger overnight on news of a vaccine trial delay. Yields rose gradually, tracing a similar move higher in equities futures. 10yr yields moved into negative territory in the past hour, up 0.6bps a .687. UMBS are starting…(read more)

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Source: Mortgage News Daily