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MBS RECAP: Bonds Confirm The Breakout, But There Are 2 Ways to Play It

Posted To: MBS Commentary

Bonds Confirm The Breakout, But There Are 2 Ways to Play It Today offers firm confirmation of the range breakout we'd been hoping to see this week. These sorts of breakouts are positive signals in the bigger picture, but risk-averse rate watchers can use them as early warning signs for short-term shifts. Today's video discusses this in greater detail. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) ADP Employment 428k vs 950k f'cast, 212k prev Market Movement Recap 08:16 AM Bonds were modestly weaker overnight, but domestic buyers got an early start around 6:30am. With another slight boost from weak ADP data, Treasuries just turned positive and MBS are effectively unchanged. 11:03 AM Gains extending a bit now, with more friendly Fed-speak, this…(read more)

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