MBS Working day Ahead: State Of The What? Bonds Flip Attention to Source and The Fed

Posted To: MBS Commentary

Despite a reasonable volume of target on last evening&#039s State of The Union speech in the news, it was a total dud in conditions of bond sector movement. These speeches are normally duds, but this time all-around, bonds were being on high notify for any threats, obtaining produced two successive 3yr+ intraday highs. The thinking was that a more sturdy announcement of the infrastructure spending approach alluded to last week, last month, and last calendar year would place pressure on bond marketplaces for the reason that of its implications for Treasury supply. There are several content covering the infrastructure approach as it relevant to last evening&#039s speech. Here&#039s 1 . A more essential supply thing to consider comes this morning in the form of the Treasury&#039s quarterly refunding announcement. Marketplaces hope 3/10/30yr auctions to occur in at …(go through more)

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