Posted To: MBS Commentary
Sideways to Start The Week, But That's Still a Victory Last Friday's jobs report sparked a reasonably big bond rally. In terms of 10yr yields it was one of the best days in weeks, if not months (depending on whether we're measuring from the previous close or the opening trade of any given day). This created a risk that traders would seize the gains as a sort of selling opportunity–especially with yields bouncing almost perfectly at the 1.56% technical level. While we did see a bit of weakness today, it was almost too small to count. That's a victory considering Friday's gains, but volume and volatility were so low that we arguably haven't seen a representative sample of traders show up for the week. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement…(read more)
Source: Mortgage News Daily
