Posted To: MBS Commentary
Traders Move to Sidelines Ahead of Fed Announcement September's big Fed announcement doesn't hit until next Wednesday, but it's not too early for markets to freak out about it a little bit. The fear is expressed in the form of a move to the sidelines for both stocks and bonds. In other words, both sides of the market sold off today. Treasuries fared a bit better, and MBS fared better still (2.0 coupons only dropped an eighth of a point by 4pm). 10yr yields thought better of breaking too far above the 1.37% technical level and have been settling there in the after hours session. Next week remains anyone's game with a range breakout being all but guaranteed. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 09:00 AM Modestly weaker overnight with selling…(read more)
Source: Mortgage News Daily
