Posted To: MBS Commentary

Summertime Mondays–especially those without any significant calendar events–have a tendency to be lighter than normal in terms of volume and volatility. That's holding true so far today, and it would be a victory if it continues to hold true considering Friday's solid post-NFP gains. But even then, yields are still well inside the broader sideways range. That means we're still waiting for some bullish or bearish impulse to challenge the boundaries of the "intermission" range that's been intact for nearly 3 months now. "Slow and sideways" will be a risk throughout the week as the calendar offers little of consequence until Wednesday afternoon at the earliest (10yr Treasury auction). The week's only big ticket economic report is the Consumer Price Index…(read more)

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Source: Mortgage News Daily