Posted To: MBS Commentary

Since the 2nd week of June, the bond market has been operating in a fairly narrow range with trading momentum being largely flat in the bigger picture. That range is in slightly stronger territory compared to most of the previous 2 months with credit going, in part, to a weaker than expected jobs report at the beginning of the month. Now, with the next jobs report days away, bonds are arguably setting up in the same sort of sideways pattern, ready to make an adjustment based on the data’s implication for Fed policy. 10yr yields are operating between the mid 1.40’s and mid 1.50’s for now with only two quick breakout attempts: one after the Fed announcement 2 weeks ago and one more serendipitous example driven by illiquidity early in the overnight session last Monday. Serendipity…(read more)

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Published On: June 29, 2021 / Categories: Mortgage News /

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