Posted To: MBS Commentary
Sideways and Still Waiting on Friday's Jobs Report Today's trading lived up to the sideways promises discussed this morning. And yes, while it is terribly cliche, "sideways ahead of the jobs report" is indeed actually the best way to view the week's trading so far. 10yr yields were less than 1bp lower by the 3pm CME close and 2.5 UMBS coupons were perfectly unchanged. On a slightly bullish note, 10yr yields found support at 1.62%, but we should have no doubts about the fragility of that ceiling in the event of a super strong payrolls print on Friday. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 08:29 AM Bonds recover slightly in low overnight volume and light volatility. 1.62% technical level offered a supportive ceiling and 10yr yields are…(read more)
Source: Mortgage News Daily
