Posted To: MBS Commentary

Much Better Day For Bonds. Dare We Discuss It? A fairly flat morning gave way to an afternoon rally, especially for MBS. 10yr yields made “lower highs” for the 3rd day in a row today. Getting “hopeful” has been dangerous for a month now. While we don’t know how dangerous it will prove to be this time, it’s clearly less dangerous than it was last week. In other words, this is our best day of evidence so far that the recent bond sell-off has run its course for now. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 08:17 AM Slightly stronger overnight, at first. European hours brought a bit of weakness, ushering 10yr yields into the domestic session about 2bps higher than yesterday’s close. Currently up only 1bp at 1.434%. 2.5 UMBS are down…(read more)

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Published On: March 2, 2021 / Categories: Mortgage News /

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