Posted To: MBS Commentary

Deceptively Interesting Trading Range Ahead of Fed After a move up from 1.25 to nearly 1.30% on Monday, 10yr yields dropped back below 1.25% almost immediately on Tuesday. Those looking for reasons might find explanations ranging from Chinese stock market weakness to covid case counts to pre-Fed jitters. In general though, bonds have been sideways between 1.22 and 1.31 since last Wednesday. It’s only when we move outside that range that something new and interesting will be happening in terms of bigger picture momentum. Wednesday afternoon’s Fed announcement brings the next big chance at volatility. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Durable Goods 0.8 vs 2.1 f’cast, 3.2 prev Market Movement Recap 08:55 AM moderately stronger overnight, mostly at EU open, but with…(read more)

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