Posted To: MBS Commentary

Bonds were flat to start the overnight session, but moved higher right at the start of European trading. This has been a major theme in the past few sessions with Italian yields leading the way higher for core EU yields. By the time the move gets across the Atlantic, it’s a highly diluted but still noticeable. Perhaps Europe deserves some credit for a reversal as well. Shortly after the previous chart was snapped, German bund yields fell below the day’s previous lows and Treasuries followed. The net effect is an unchanged start for Treasuries. MB are also roughly unchanged (technically a tick weaker, but they’d gone out at the apex of an afternoon rally yesterday, so 1-2 ticks of weakness (0.03 – 0.06) is misleading. The only relevant market mover on the calendar today is the 20yr…(read more)

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Published On: May 19, 2021 / Categories: Mortgage News /