Posted To: MBS Commentary

Bonds Find Footing After Digesting Friendly Fed Message Bonds were slightly cautious ahead of the Fed announcement today, with a few traders possibly wondering if recent economic/pandemic-related traction would bring a shift in tone. Indeed it did, but Powell was clear in separating a more upbeat tone from any implications for monetary policy. Bottom line: the Fed’s punchbowl is still firmly bolted to the table. Bonds rallied back accordingly in the afternoon. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm MBA Refi Apps 3185 vs 3219 prev Purchase Apps 281 vs 295 prev Market Movement Recap 08:47 AM Bonds opened flat in Asia and weakened slightly in Europe. German Bund yields spiked moderately to their highest levels since early March and a small amount of that negativity brushed off…(read more)

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Published On: April 28, 2021 / Categories: Mortgage News /