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MBS RECAP: Locking vs Floating Remains a Question of Covid vs The Economy

Posted To: MBS Commentary

Locking vs Floating Remains a Question of Covid vs The Economy Rates are low. Unless coronavirus wins, rates should continue to gradually move higher, but not in a straight line. Keep the underlying, gradual, uptrend in rates in mind on days where it seems like things are going well for bonds. Those can be great days to lock in this environment. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Existing Home Sales: 3.91m vs 4.12m f'cast, 4.33m prev Market Movement Recap 08:19 AM Bonds traded about as flat as they ever trade overnight despite a modest push back toward higher levels in stocks. The domestic session is starting with 10yr yields and MBS both within one trade of unchanged. 12:29 PM Modest reversal from the day's best levels. MBS were up nearly an eighth of a point…(read more)

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