Posted To: MBS Commentary
Refreshingly Resilient Despite Bumpy 30yr Auction There have been a few flashes of resilience in the bond market this week. In the broadest sense, it's reassuring to see that bonds have retraced only half of their omicron driven move whereas stocks made it almost all the way back. That this occurred on a Treasury auction week and in spite of the market gearing up for a tapering acceleration makes it all the more impressive. Today's addition to this theme was the fairly tame reaction to a very weak 30yr bond auction. The horizon is not without its risks though… Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm jobless claims 184 vs 215 f'cast, 227 prev Market Movement Recap 08:46 AM decent gains overnight, and holding ground after econ data. 10yr down 4.3bps at 1.485. MBS up…(read more)
Source: Mortgage News Daily
