Posted To: MBS Commentary
Steady Selling All Day For Bonds Bonds may have rallied on Mon-Thu, but Friday's theme has been quite different. Right from the start of the overnight session, yields began slogging steadily higher. When Europe came online, losses accelerated, but the pace was still modest overall. Then at 8:30am, the surprisingly strong Retail Sales data added to the pace of the weakness. To be clear though, the data is nothing but a supporting actor in the broader drama starring a steady decline in covid case counts, persistent inflation concerns, and an increasingly hawkish Federal Reserve. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Retail Sales 0.7 vs -0.2 f'cast, +0.9 prev NY Fed Manufacturing 19.8 vs 27.0 f'cast, 34.3 prev Consumer Sentiment 71.4 vs 73.1 f'cast, 72.8 prev Market…(read more)
Source: Mortgage News Daily
