Posted To: MBS Commentary

Markets Back in Action, Hurrying Up and Waiting Bonds were back in action today although you'd hardly know it based on the narrow trading range. Stocks were much more willing to put on a show with S&P futures down 1.5% by the close. Bonds gleaned some small benefit from that, perhaps, as 10yr Treasuries went from slightly weaker to slightly stronger during the stock sell-off. In general though, bonds continue to wait on GA senate election results (earliest possible impact would be Thursday). Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:36 AM Active trading overnight, weaker at first, but then stronger during European hours. Slightly higher yields at the domestic open. Biggest movers so far = corporate issuance , and overnight…(read more)

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Source: Mortgage News Daily