Posted To: MBS Commentary
Uneventful But Slightly Stronger Start At times, and especially during the summertime months, Mondays end up becoming unofficial weekend days. And even though 10yr yields hit the lowest levels in almost 2 weeks this morning, the same could be said of today. There weren’t any clear examples of cause and effect in play, nor was there any significant volume or volatility. The low yields were less than 2bps away from Friday’s lows and we only traded about a 2bp range on the day. MBS prices picked up almost an eighth of a point early in the day and were perfectly flat from there on out. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Markit PMIs: Services 70.1 vs 64.5 f’cast Manufacturing 61.5 vs 60.2 f’cast Existing Sales 5.85m vs 6.09m f’cast Market Movement Recap 08:51…(read more)
