Posted To: MBS Commentary

Bonds Improve, Led by Treasuries as Corporate Pipeline Clears One of the key sources of motivation for rising rates in the past 2 days has been an active slate of new corporate bond issuance. As the new deals are brought to market, one option for the banks that run the books is to sell Treasuries to hedge against rising rates during the issuance process. Once the bonds are finally launched, that can result in those hedges being bought back. This is one of the reasons Treasuries are rallying and outperforming MBS today. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm Housing Starts 1.52m vs 1.575m f’cast Building Permits 1.65m vs 1.638m f’cast Market Movement Recap 08:39 AM Calm, uneventful overnight session. Light volume. 10yr unchanged at 1.64 and MBS unchanged at 102-05 (102…(read more)

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Published On: November 17, 2021 / Categories: Mortgage News /

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