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MBS RECAP: Bonds Generally Consolidating Ahead of Jobs Report

Posted To: MBS Commentary

Bonds Generally Consolidating Ahead of Jobs Report MBS were higher today, but for the week as a whole, they've been flat (and right in line with last Friday's levels as of this afternoon). That doesn't seem like a coincidence based on tomorrow's jobs report, but it still might be! We just haven't seen enough evidence of the market's willingness to react to econ data recently. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 1.186m vs 1.415m f'cast, 1.435m prev Market Movement Recap 08:19 AM Modest gains in Asia and slightly better gains in Europe for bonds overnight. The strength generally correlated with stock market weakness. 10yr yields starting almost 3bps lower and 2.0 UMBS starting almost an eighth of a point…(read more)

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