MBS RECAP: A little bit Much better, Quite Quiet Working day. CPI Sets Tone Tomorrow

Posted To: MBS Commentary

Bond marketplaces were slightly weaker to get started the session, but quickly discovered some aid from a European bond marketplace rally. Even following the European close, the tone remained supportive in the domestic session. There wasn&#039t the attribute weak spot in the operate up to the 10yr Treasury auction. And the auction itself was quite strong. The caveat to all of the the higher than is that quantity and participation were a lot lighter than standard ( 2nd quietest day of the yr so considerably). That point was pushed household by the more substantial moves at 2pm–a thing we only are inclined to see on quieter days as it&#039s a peak time of day for shorter-phrase trades to be closed out. That 2pm-3pm trading impression tends to get misplaced in the shuffle on busier day, but it encouraged the largest shifts in rates and yields currently. In terms of bond…(go through far more)

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