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MBS RECAP: Surprisingly Strong Day Made Possible By Last Week's Rout

Posted To: MBS Commentary

Surprisingly Strong Day Made Possible By Last Week's Rout After last week's rout at the hands of stronger economic data, bonds have been able to enjoy a nominal correction to start the new week. Looking ahead, the bond market's biggest hope is that Wednesday's Fed announcement includes an official bond buying pledge from the Fed (and that it's enough to keep pushing rates back in a friendlier direction). Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Market Movement Recap 08:22 AM Bonds were flat during Asian market hours, but gave up some ground during European hours. 10yr yields are starting the day up 2bps at .912%. 2.0 UMBS are currently down 2 ticks (-0.05) at 101-09 (101.28). 11:28 AM Morning rally/correction continues with Treasuries erasing most of…(read more)

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