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MBS RECAP: Bonds Surprisingly Resilient After Last Week's Scare

Posted To: MBS Commentary

Bonds Surprisingly Resilient After Last Week's Scare After last week's somewhat scary move higher in rates, the bond market has shown a decent amount of resilience so far this week as the jury remains out in the case of covid vs the economy. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Consumer Price Index 0.6 vs 0.5 f'cast , -0.1 prev Core Annual CPI 1.2 vs 1.1 f'cast , 1.2 prev Market Movement Recap 08:22 AM Stocks and bonds both mostly flat overnight, like yesterday. Slight edge toward "risk-on" with stocks just barely stronger and bonds just barely weaker. 2.0 UMBS starting the day down a hair at 102-22 (102.69). 10:32 AM MBS have bounced back nicely after opening slightly weaker. Both Treasuries and MBS improved at 8:30, but MBS have kept the…(read more)

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