Posted To: MBS Commentary
Valiant Effort But This Week’s Bounce-Back Effort Falls Short Insult, meet injury? Oh, you’re already acquainted?! Of course you are… It’s 2021 and we’re talking about the bond market after all. Just over 24 hours after bonds looked set to maintain a friendly trend all week, we’re closing near the weakest levels of the week and firmly rejecting a break below 1.62% (a level that’s served as a good line in the sand for stronger rally prospects). Most frustratingly, there are no obvious scapegoats for today’s price action–just a general 2-day trend leading back from yesterday morning’s low yields. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Annual Core PCE 1.4 vs 1.5 f’cast, 1.5 prev Consumer Sentiment 84.9 vs 83.6 f’cast, 83.0 prev Market Movement…(read more)
