Posted To: MBS Commentary

Uneventful Day Despite Covid Relief Bill The big news at the end of last week was Trump's decision to veto the covid relief/spending bill. After he signed it last night, overnight markets began pointing toward higher rates. 10yr yields were roughly 3bps higher to start the day, but it was all downhill from there (in a good way). MBS led the charge early. Treasuries ultimately broke even, with more buyers showing up after the 5yr Treasury auction. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:28 AM Bonds weaker and stocks stronger overnight following the signing of the stimulus/spending bill. 10yr rose about 3bps and 1.5 UMBS are starting the day down just over an eighth of a point. 11:16 AM Treasuries have been flat to slightly…(read more)

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Source: Mortgage News Daily