Posted To: MBS Commentary

Another Bad 7yr Auction Day, Even If We Can’t Blame The Auction Bonds were feeling a bit defensive ahead of today’s 7yr auction, and rightfully so! 7yr auction days have been rough in 2021. The past 3 examples were rough, in large part due to auction results themselves. Today was a bit different. The auction was actually decent. Bonds ended up selling off for other reasons. More details on those in today’s video… Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm FHFA Home Prices 12.2 vs 12.1 prev Case Shiller Prices 11.9 vs 11.7 f’cast, 11.1 prev Consumer Confidence 121.7 vs 113.0 f’cast, 109.0 prev Market Movement Recap 08:31 AM Mostly sideways but slightly weaker overnight. Low volume/volatility. No standout market movers. 10yr yields starting up 1.5bps at 1.583. UMBS…(read more)

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Published On: April 27, 2021 / Categories: Mortgage News /