Posted To: MBS Commentary

Strong Showing With Help From Vaccine Drama and a Solid Bond Auction The day began with bonds falling back to yesterday’s range after rising in the overnight session. Concerns over the J&J vaccine were in focus. Inflation data (CPI) came out stronger than expected, but bonds took it in stride, ultimately rallying back into positive territory within 10 minutes of the data. The day’s biggest ally was yet to join the fight, but when the 30yr bond auction results came out, its allegiances were clear. Even after a morning of modest gains, the auction still managed to post strong results, thus adding solid reinforcement for the current consolidation pattern. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Core Annual CPI 1.6 vs 1.5 f’cast, 1.3 prev Market Movement Recap 07:51…(read more)

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Published On: April 13, 2021 / Categories: Mortgage News /

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