Posted To: MBS Commentary

Bonds Waiting For More Relevant Inspiration Today’s ADP employment data missed the mark by quite a bit. If there was one reason that bonds were able to move back into positive territory after overnight weakness, that was it. The gains didn’t last long thanks to a combination of EU bond market weakness and general tradeflows at the NYSE open. In fairness, the gains returned by the end of the day, but just barely. The takeaway in the bigger picture is that bonds are consolidating and waiting for more relevant inspiration. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm ADP Employment 374k vs 613k f’cast, 326k prev ISM Manufacturing 59.9 vs 58.6 f’cast Prices Paid 79.4 vs 83.8 f’cast Market Movement Recap 08:18 AM Bonds were moderately weaker in the first few hours of the…(read more)

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Published On: September 1, 2021 / Categories: Mortgage News /