Posted To: MBS Commentary
Small Scale Volatility Leaves Bonds Slightly Weaker The day began on a modestly positive note and ended with bonds trading just slightly weaker. There was little to glean from the price action and no stand-out correlations with news or data. The only exception was a series of headlines at 5am regarding Moderna booster efficacy with respect to the omicron variant. After that, 2-way volatility at the 9:30am NYSE open was the most notable event. When stocks bottomed out and recovered some of their losses in the afternoon, bond yields followed. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm Market Movement Recap 09:16 AM Moderately stronger in Asia, but gains largely erased in Europe and early US trading. EU bonds leading the way. Stocks down more than 1%. 10yr down 1.2 bps and MBS up 2 ticks…(read more)
Source: Mortgage News Daily
