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MBS RECAP: Some Reassurance, But We’re Not Out Of The Woods

Posted To: MBS Commentary

Bonds Making Case For Friendly Technical Bounce Last Friday, we were already eyeing the technical ceiling at .79% and asking "was that it?" A the new week begins with what some might call incredibly even-keeled and relatively ample bond buying demand, the case for technical bounce is growing. The only caveat is that it's "month-end" (which can create some compulsory trading). Bottom line: it will be even more meaningful if these gains stick around tomorrow. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Market Movement Recap 08:30 AM Decent trading overnight. Treasuries lost less ground than European bonds and have been pushing back against modest weakness in the past 2 hours. MBS opening down 2 ticks (0.06). 10yr up 1.15bps at .736…(read more)

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