Posted To: MBS Commentary

Strong Showing Overall Despite Late Day Weakness As noted in this morning's commentary, the key source of inspiration overnight was Austria's covid lockdown announcement. Yields plunged in response and didn't do much else for the rest of the day. MBS, on the other hand, happened to slide toward weaker levels throughout the day, but we're not reading too much into that for reasons discussed in today's video. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm Jobless Claims 268k vs 260k f'cast, 269k prev Philly Fed Index 39.0 vs 24.0 f'cast, 23.8 prev Market Movement Recap 08:27 AM Much stronger overnight amid European covid surge and Austrian lockdown news. 10yr down 5bps at 1.538 and MBS up nearly a quarter point. 12:08 PM Fairly flat since the open. One brief…(read more)

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Source: Mortgage News Daily