Posted To: MBS Commentary

Small Scale Volatility In The Bigger Picture The adverse market fee continues to dominate lock/float consideration for those who haven't seen it return yet. For everyone else, the decision has most to do with Wednesday's Fed announcement which presents the biggest binary risk we've seen from a scheduled event in a while (hint: binary means it could be good or bad for rates/bonds). Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:26 AM Bonds were almost perfectly unchanged overnight despite stocks gaining roughly 1% fairly quickly. 10yr yields are just a hair under 'unchanged' and 2.0 UMBS are in a similar stance (not enough liquidity yet to pin them down… could be down 0.09, up 0.03, or somewhere in between). 02…(read more)

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Source: Mortgage News Daily