Posted To: MBS Commentary

Treasuries Reluctant to Add to Rally, But MBS Outperform. It was a ho-hum day for bonds. Movement was minimal and volume was the lowest of the week. We could choose to be concerned that Treasuries broke from yesterday's obvious game plan of rallying to lower yields, or we could simply assume that it's a Friday in November with expectations running hot for the next big vaccine trial announcement (any day now, but officially "by the end of the month" according to Moderna). Vaccine or no vaccine, the bond market's hesitation is noteworthy given the ongoing surge in covid case counts. At the very least, yields are being careful to avoid overdoing any rallies. MBS didn't necessarily rally hard, but they definitely outperformed Treasuries yet again. Econ Data / Events 20min…(read more)

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Source: Mortgage News Daily