Posted To: MBS Commentary
Winning Streak Thwarted, But Not By Much This morning’s Day Ahead pondered the possibility of a 4th straight day of intraday gains for bonds–something that hasn’t happened since last September. These bullish musings apparently angered the bond gods, who are a stern and unforgiving lot. Literally moments later, bonds turned red and have been red ever since. On the bright side, 10yr yields have been orbiting 1.56% fairly reliably these past 4 days (in other words, they’ve been flat despite some intraday volatility). This is actually another strong showing considering we have another condensed Treasury auction cycle at the beginning of next week. 2021’s rising rate intermission continues… Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm IHS/Markit PMIs: Composite………..(read more)
