Posted To: MBS Commentary

Unexpected Snowball Rally After Consumer Sentiment Data Snowball moves in markets, by their nature, tend to be unexpected. Today’s was downright surprising, largely because the extent of the “miss” in Consumer Sentiment data was equally surprising. This is not a report that typically accounts for this much movement. Even in today’s case, it was only worth 3bps of improvement in 10yr yields. But that 3bps was enough to prompt short-covering and technical triggers that helped bonds drop several more bps by the end of the day. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Import Prices 0.3 vs 0.6 f’cast Export Prices 1.3 vs 0.8 f’cast Consumer Sentiment 70.2 vs 81.2 f’cast/prev (lowest since 2011) Market Movement Recap 09:32 AM Slightly stronger overnight with…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Published On: August 13, 2021 / Categories: Mortgage News /

Subscribe To Receive The Latest News

Curabitur ac leo nunc. Vestibulum et mauris vel ante finibus maximus.

Thank you for your message. It has been sent.
There was an error trying to send your message. Please try again later.

Add notice about your Privacy Policy here.