Posted To: MBS Commentary

“Inside Day” Placeholder Ahead of Wednesday’s Main Event The AM commentary revisited and reiterated the consolidation range that’s been intact for more than a month. As far back as 2.5 weeks ago (after the last jobs report) it became increasingly clear that the bond market stood its greatest chance of breaking out of the consolidation range after the September 22nd Fed announcement. The direction, magnitude, and sustainability of that breakout remains to be seen, but after today’s trading range fell completely inside yesterday’s (hence the “inside day”), a post-Fed breakout is increasingly likely. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Housing Starts 1.615 vs 1.555m f’cast, 1.554m prev Building Permits 1.728m vs 1.600m f’cast, 1.630m…(read more)

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Published On: September 21, 2021 / Categories: Mortgage News /