Posted To: MBS Commentary

Still a Decent Week Despite Friday Slide Thursday morning was exceptionally strong for bonds–perhaps too strong, with too much influence from artificial factors like short-covering and tech-triggered algos. Today’s modest weakness reinforces a more sober assessment of the recent trend, and although rates aren’t as low as yesterday, that trend is still in good shape. 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 Movement Recap 09:12 AM Modestly stronger overnight, but weaker since 8am. There is no clear connection with any calendar event. Domestic traders simply showing up to sell today (booking profits on recent long positions, hedging new corporate issuance , or re-shorting bonds after…(read more)

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Published On: April 16, 2021 / Categories: Mortgage News /

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