Posted To: MBS Commentary

Fighting Good Fight, Waiting on Fed Day Coming off a fairly rough Friday at the end of last week, it’s mildly reassuring to begin the new week with no additional damage. But as has been the case for weeks, these resilient episodes are noticeably lacking in bullish confirmation (i.e. we’re not selling off, but we’re not rallying in any meaningful way). The takeaway is simple: it’s a rising rate environment until proven otherwise. If one event has the power to change the trading tone in bonds this week, it’s Wednesday’s Fed Announcement for reasons discussed in the Day Ahead. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm NY Fed Manufacturing 17.4 vs 14.5 f’cast, 12.0 prev Market Movement Recap 08:19 AM Fairly flat overnight with initial weakness giving way to…(read more)

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Published On: March 15, 2021 / Categories: Mortgage News /

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