Posted To: MBS Commentary

Super Slow Day; Still Waiting For Breakout Whether it’s the narrow range between 1.62 and 1.68% in 10yr yields or the wider 1.53-1.75%, bond watchers continue waiting for evidence of a breakout. It certainly didn’t arrive today, and even if it did, the ultra low volume profile would argue against reading too much into it. Despite the broadly sideways trends, when put under a microscope, charts offer more examples of “higher lows” in bond yields than “lower highs.” As such, those who are truly on a fence (with respect to lock/float strategy) might err on the side of caution until some contrary evidence comes along. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm NY Fed Manufacturing 24.3 vs 23.9 Homebuilder Confidence 83 vs 83 f’cast, 83 prev Market Movement…(read more)

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Published On: May 17, 2021 / Categories: Mortgage News /

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