Posted To: MBS Commentary
Losses Continue for Treasuries, But Not MBS Treasury yields were set to start the day lower before upbeat omicron news hit at 6:45am this morning. With that, a day of weakness was set in motion. Yields moved higher until noon before investors figured we'd seen enough to facilitate strong bidding a the 1pm auction of 10yr notes. They were right. The auction went smoothly, but was not strong enough to push bond yields into lower territory. MBS fared better, ultimately making it back to positive territory a few hours before the close. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm Market Movement Recap 08:17 AM Bonds were stronger at first in the overnight session with the sharpest gains following a German Bund auction. Gains reversed in Pfizer news 10yr is now up just under 1bp at 1…(read more)
Source: Mortgage News Daily
