MBS RECAP: Bonds Back in Business; More New All-Time Low Rates

Posted To: MBS Commentary

Bonds Back in Business; More New All-Time Low Rates What a difference a week makes! Last week, the order of the day was to lament the negative momentum shift that took bond yields up and out of established ranges. Now we're already in a position to confirm a return to those ranges. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Jobless Claims roughly as-expected, with Continued Claims slightly higher than expected. Producer-level inflation fell again, with the annual core reading dropping to 0.3% vs 0.6% last time. Market Movement Recap 08:57 AM Bonds sharply stronger overnight, this time more in response to stock market weakness than Fed announcement follow-through. 10yr yields more than 5bps lower at .68%. UMBS 2.0 starting to struggle with the altitude, but nonetheless…(read more)

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