Posted To: MBS Commentary

No Easy Answers Today; Still Anyone’s Game Bonds were weaker earlier in the trading session but rallied back mid-morning before coasting mostly sideways into the close. Bond bulls were frustrated by the inability to break the floor at 1.27-1.28% in 10yr yields. Bond bears were frustrated by the clear unwillingness to explore new highs compared to yesterday. In other words, it was an “inside day” with lower highs and higher lows, and part of a 2-day consolidation following the highest yields in 11+ months. Such consolidations can be preludes to big bounces OR renewed selling pressure. There weren’t any major clues in today’s session about which side is going to win. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 861 vs 765 f’cast, 848k prev Import…(read more)

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Published On: February 18, 2021 / Categories: Mortgage News /