Posted To: MBS Commentary

Tomorrow Could Be a Very Big Day For Bonds Bonds experienced a bit of weakness today, but 10yr yields bounced almost perfectly at the range ceiling of .96%. That means they made it all the way from November through today in essentially the same narrow range. All the while the biggest potential driver of a breakout has been the election results due out tonight. That means tomorrow could be a very big day, for better or worse. Granted, these sorts of big ticket market movers don't always live up to the hype, but all we can ever really know in advance is that some events have a lot more potential than others to move markets. This is one of those! Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) ISM Manufacturing 60.7 vs 56.6 f'cast, 57.5 prev ISM Prices…(read more)

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Source: Mortgage News Daily