Posted To: MBS Commentary

Weaker Treasury Auction, But Only After a Strong Morning In and of itself, the10yr Treasury auction (arguably the most relevant calendar item for the bond market today) was weaker than recent averages, but only after bonds rallied quite nicely earlier in the day. Geopolitical risks and pre-holiday short covering are potential sources of inspiration (there are no obvious market movers jumping off the page apart from “short covering”). Either way, it made for an extension of a bond rally that looked like it had fizzled out on Monday. MBS didn’t fare quite as well, even after accounting for the visual weakness associated with the roll. Econ Data / Events Fed MBS Buying 10am & 1130am Market Movement Recap 08:25 AM Modestly stronger overnight. MBS look lower on charts due to the…(read more)

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Published On: November 9, 2021 / Categories: Mortgage News /