Posted To: MBS Commentary

Friendly Bounce May Already Have Run Its Course Friendly bounces after strong selling sprees are slightly more likely to play out over 2-day time frames. That was the risk heading into today after Tuesday and Wednesday saw Treasury yields close lower for first back-to-back days since mid-January. And as far as Treasuries are concerned, the 2-day rule is in effect. Either that, or we seeing extremely cautious trading ahead of the 3-day weekend. Thankfully MBS outperformed, but most mortgage lenders priced defensively nonetheless. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 793k vs 757k f’cast 812k prev Market Movement Recap 08:42 AM Very light trading overnight with Asian markets closed for lunar new year. Slightly weaker by the start of European hours and flat since…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Published On: February 11, 2021 / Categories: Mortgage News /