Posted To: MBS Commentary

Rising Rates Thwarted By Coronavirus Concerns Stop us if you've heard this one before, but rates are low due to an unprecedented global emergency. Unless coronavirus situations deteriorates significantly, it's only fair for rates to gradually push back toward higher levels. But when case counts spike, bonds are still willing to respond. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying New Home Sales: 676k vs 640k f'cast, 580k prev (+16.6%) Market Movement Recap 08:24 AM Bonds WERE slightly stronger as stocks weakened overnight session. 10s made it to .699, but yields bounced higher in early domestic trading, now up to .73%. MBS are hitting their first trades about 1-2 ticks (.03-.06) weaker. 09:59 AM Yields are surging (relatively) lower as stocks slump at the 9:30am…(read more)

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Source: Mortgage News Daily