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MBS RECAP: Rates Are Reconnecting With Bond Market Movement

Posted To: MBS Commentary

Rates Are Reconnecting With Bond Market Movement After last week's LLPA news, lenders pulled back pricing for obvious reasons and only gradually lowered their defenses. As of today, we are finally seeing that process level-off, which means any major movement in bonds should more readily translate to rates in the days ahead. Markets will likely hear things they already know from the Fed tomorrow as bonds keep trying to confirm a near-term ceiling at 0.73% in 10yr yields. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Housing Starts 1.496m vs 1.24m f'cast , 1.22m prev Building Permits 1.495m vs 1.320m f'cast , 1.258m prev Market Movement Recap 07:56 AM Bonds began the overnight session modestly stronger despite stock futures doing the same. Yields…(read more)

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