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MBS RECAP: Bonds Beginning The Week on The Defensive

Posted To: MBS Commentary

Bonds Beginning The Week on The Defensive After weeks of gradual strength in bonds, this week begins with rates under modest pressure. The rest of the week brings several other potential market movers in addition to the ongoing hyperfocus on covid numbers. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Durable Goods Orders: 7.3 vs 7.0 f'cast , 15.1 prev Cap-Ex 3.3 vs 2.3 f'cast , 1.6 prev Market Movement Recap 08:45 AM Stocks stayed modestly stronger in the overnight session with the street giving credit to generally positive earnings reports. Bonds avoided paying too much attention, spending the night mostly flat and starting the domestic session in just slightly stronger territory. No major reaction to the Durable Goods data. 12:55 PM Very little…(read more)

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