MBS RECAP: Virus Fears Back in Focus For Markets

Posted To: MBS Commentary

Virus Fears Back in Focus For Markets Rather than the gradual decline that many had hoped for, we're instead seeing a lift-off from the recently flat coronavirus numbers. This has been a driving force for financial markets with stocks sliding and bonds improving. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying NY Fed Manufacturing: -0.2 vs -29.8 f'cast, -48.5 prev Market Movement Recap 08:13 AM Bonds improved overnight amid global risk aversion and caution surrounding the second wave of coronavirus cases. 10yr down more than 4bps at .666%. UMBS 2.0 up an eighth in price at 102.19 (102-06). 10:57 AM Stocks and bond yields have been climbing slowly and steadily since 2am. There is no specific news behind the move. 10yr yields are still 2.5bps lower on the day at .684. UMBS…(read more)

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