Posted To: MBS Commentary
Slow Start to a Potentially Slow Week. Bonds did a good enough job of holding their ground today thus leaving at least half of last week’s gains intact. The past 2 trading days mean Treasuries are shying away from a more aggressive move toward lower yields and instead continue to favor a sideways consolidation. Things can always change, of course, but there’s limited inspiration on the calendar in the coming days with Thursday’s ECB announcement being the first thing that really jumps out. Equities may be interested in a corporate earnings calendar that continues ramping up, but stock/bond correlation has been hit and miss for months. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Housing Starts 1.739m vs 1.613m f’cast Building Permits 1.766m vs 1.75m f’cast Market…(read more)
