Posted To: MBS Commentary
Low Volume/Volatility For a Second Straight Day Although it was last Wednesday that offered the lion’s share of excitement for the bond market last week, the following 2 sessions were at least somewhat active in terms of volume and volatility. But that’s far from the case so far this week. Monday could have been seen as one of those unofficial “3-day-weekend” type of days, but Tuesday was even calmer. There was a small positive reaction to weaker Housing Starts early, but it was quickly erased by corporate bond supply. Treasuries hit the 3pm CME close less than 1bp lower on the day, having traded less than a 3bp range. MBS were up almost an eighth of a point, but no higher than they were for most of Monday’s session. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm…(read more)
