Posted To: MBS Commentary

Slightly Weaker Today, But Still In The Recent Range Thursday proved to be a very forgettable session for the bond market with trading levels technically weaker on the day, but right in line with most of Wednesday's trading. MBS were actually a bit better than that with prices ultimately making it back to 'unchanged' levels even as 10yr yields remained 2-3bps higher. In the bigger picture, the new, lower rate range persists. Weaker GDP data and a weaker 7yr auction did nothing to challenge it. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm GDP 6.5 vs 8.5 f'cast, 6.3 prev Jobless Claims 400k vs 380k f'cast, 424k prev Pending Sales -1.9 vs +0.3 f'cast, +8.3 prev Market Movement Recap 08:16 AM flat to slightly weaker overnight. EU econ data added to weakness around…(read more)

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Source: Mortgage News Daily