Posted To: MBS Commentary

Weaker Start, Stronger Finish Volatility has been elevated for the bond market in the past 4 weeks and especially in the past 2 weeks. Today was one of the milder days, but it was still good for a reasonably big shift from overnight levels to closing levels. During that time, yields fell from 1.50+ to 1.42. MBS continue to underperform but nonetheless made it back into positive territory. The most memorable market mover was the unsurprising revelation that the US has now logged its first case of Omicron, but the rally was in the works before those headlines hit. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm ADP Employment 534k vs 525k f'cast, 570k prev ISM Manufacturing 61.1 vs 61.0 f'cast, 60.8 prev Prices Paid 82.4 vs 85.5 f'cast 85.7 prev Construction Spending 0.2 vs 0…(read more)

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Source: Mortgage News Daily