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MBS RECAP: Big Risks Ahead For Rates and Some Solid Opporunities Right Now

Posted To: MBS Commentary

Big Risks Ahead For Rates and Some Solid Opporunities Right Now Treasury yields broke one important ceiling yesterday (.74%) and another today at .79% before finding support at .823%. This leaves them at the highest levels since late March and in danger of moving higher. Mortgage rates have been outperforming, but they're not immune from the risks. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Jobless Claims 1.877m vs 1.800m f'cast Continued Claims 21.487m vs 20.838m previous Market Movement Recap 08:07 AM Only modestly weaker overnight with no major reaction to the first phase of the European Central Bank announcement. The press conference is yet to come. Treasury yields continue holding under yesterday's highs. MBS are opening roughly unchanged, but haven't…(read more)

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