Posted To: MBS Commentary

Token Gains, Light Volume, Early Close Bond market focus remains on the Georgia senate run-off election day on January 5th. Today was a non-event… a place holder in the grand scheme. Any movement today was bound to be incidental. As it happened, that movement was friendly, albeit only modestly. Expect bigger movement in the middle-to-end of next week as GA election results roll in. Happy New Year! Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 787k vs 833k f'cast, 806k prev Market Movement Recap 09:29 AM Mostly unchanged overnight, slightly weaker at the open and rallying back to unchanged presently. 10yr yields at .926 and UMBS 1.5 coupons +0.03 at 100.94. All movement should be assumed to be incidental and without momentum implications…(read more)

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Source: Mortgage News Daily