Posted To: MBS Commentary

No Reaction to Fed, Bonds Waiting on More Election Clarity Between the weaker momentum throughout October and the brief jump up to 0.95% for 10yr yields, bonds had a decent scare in the first trading hour of election night. After that, however, a big rally ensued as election results came into better focus. That rally continued into 2am this morning at which point 10yr yields had made it all the way back down to .72%. The rest of today's trading session was basically a confirmation of a previous range (0.72-0.79). Neither data, nor the Fed, nor election updates had any relevant impact. Bonds want bigger news to motivate bigger moves and tomorrow's Jobs Report isn't likely to be up to the job. Meanwhile, the mortgage market continues to outperform with another nice drop in rates today…(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