Posted To: MBS Commentary

Strong Move Today. Need Confirmation in Coming Days Bonds walked their own path today with gains overnight holding fairly steady during the first part of the domestic session. Mid-day testimony from Powell/Yellen had no effect on Treasuries/MBS, but a late-day “risk-off” move has bonds pushing well into their best levels of the day. 1.62% continues to hold as a floor and we need a strong break below there in order to add confirmation to the week’s positive vibes. Those prospects may depend on the Treasury auctions in the coming days as well as the month-end trading environment (and Japan’s fiscal year-end trading). Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 08:29 AM Stronger overnight again–especially in Europe (again). Best levels near 7am…(read more)

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Published On: March 23, 2021 / Categories: Mortgage News /