MBS RECAP: Economic Hope Squares Off Against Virus Fears (Again)

Posted To: MBS Commentary

Economic Hope Squares Off Against Virus Fears (Again) Markets continue trying to sort out the prospects for a recovery vs the risk of covid-19 resurgence. Today's battle was between super strong Retail Sales data and disconcerting covid headlines for a few US states as well as Beijing. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Retail Sales:+17.7 vs +8.0 f'cast, -14.7 prev NAHB Builder Confidence: 58 vs 45 f'cast, 37 prev Industrial Production: +1.4 vs +2.9 f'cast, -12.5 prev Market Movement Recap 07:53 AM Stocks and bond yields higher overnight. Follow-through trading on yesterday's corporate bond buying announcement from Fed. Also, talk of $1 trillion infrastructure bill. 10yr yield up 3bps to start the day (.75%). 08:43 AM Stocks surging and bond yields…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Leave a Reply