Posted To: MBS Commentary

Snowball Rally For Bonds! Why? And What Next? Heading into today, we expected the bond market to ignore potentially stronger Retail Sales data. Not only did bonds overlook the big beat (9.8 vs 5.9 f’cast), but they actually rallied in response. This was made all the more remarkable by the presence of 3 other better-than-expected economic reports that came out at the same time. Bonds went on to experience a full-fledged snowball rally. In today’s huddle, we’ll talk about what that means, what’s behind it, and what might be next. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Retail Sales 9.8 vs 5.9 f’cast, -2.7 prev Jobless Claims 576k vs 700k f’cast, 769 prev Empire State Manufacturing 26.3 vs 19.5 f’cast Philly Fed 50.2 vs 42.0 f’cast, 51.8 prev Industrial…(read more)

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Published On: April 15, 2021 / Categories: Mortgage News /

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