Posted To: MBS Commentary

Lots of Apparent Drama For an "Unchanged" Day The morning's headline proclaimed that today was essentially a "placeholder" due to the week's holiday-shortened schedule and absence of anything incredibly relevant. In true "placeholder" form, Treasuries and MBS are both unchanged with less than half an hour to trade. That said, we still managed to perceive enough intraday drama for lenders to send out a few negative reprices. This was largely a factor of stronger trading levels in the morning giving way to weaker trading levels in the afternoon. The late day return to 'unchanged' was too little, too late to matter. Econ Data / Events Fed MBS Buying 10am & 1130am Consumer Sentiment 66.8 vs 72.4 f'cast, 71.7 prev Market Movement Recap 08:56…(read more)

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Source: Mortgage News Daily