Posted To: MBS Commentary
Bonds Remain Under Pressure, But MBS Outperformed Bonds managed to remain sideways during AM hours. In fact, MBS were as much as an eighth of a point higher versus opening levels by 11:30am. The tone soured in the PM hours. 10yr yields ultimately crested 1.48% and MBS lost nearly a quarter of a point day over day. The weakness is decidedly focused on Treasuries due to the auction cycle, corporate issuance, and the “risk-on” momentum in the broader market. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm Market Movement Recap 12:31 PM moderately weaker overnight with losses extending into the 9am hour. Sideways since then with 10yr yields up 2.4bps at 1.456 and MBS down an eighth of a point. 01:20 PM A bit of weakness heading into the 1pm hour. MBS near lows, down 5 ticks (.16…(read more)
