Posted To: MBS Commentary

Yields Give Up Early Lead But Remain Near 2-Week Lows Today ended up being about as big of a roller coaster as we could expect in the absence of any significant data, events, or market movement. In other words, there was only a 4bp trading range in 10yr yields during the day, but it felt like more was at stake at times. Reason being, the morning hours were in the process of confirming a break below the 0.87+ technical level. That would have been a nice little milestone after successfully defending the 1.0% ceiling last week, but sellers took control early. Yields spiked after the 20yr Treasury auction, and then fell in the afternoon–finally paying some attention to stock market weakness. Both MBS and Treasuries ultimately settled into ranges close to yesterday's best levels and thus close…(read more)

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Source: Mortgage News Daily