Posted To: MBS Commentary

The week is off to a very strong start as heavy selling in stocks coincided with a flight to safety in bonds during the overnight session. Treasuries gained momentum after breaking the recent lows from July 8th, ultimately hitting 1.225% at the start of the CME session (8:20am ET). Overnight lows of 1.215 coincide with the gap we discussed on July 8th (1.213 – 1.25 from back in February). The next major inflection point is 0.99%, which feels like a bridge too far in the current environment (but so did 1.21% just a few short weeks ago). There are no big ticket events on the econ calendar for Monday, and the rest of the week is mostly focused on housing. Broader markets will be more interested in central bank updates. The European Central Bank (ECB) releases its policy announcement on Thursday…(read more)

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Published On: July 19, 2021 / Categories: Mortgage News /

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