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MBS RECAP: Lock Decisions Still Hinge on Adverse Market Fee

Posted To: MBS Commentary

Lock Decisions Still Hinge on Adverse Market Fee The bond market had a decent showing today, ultimately rallying back into positive territory after a weaker start. We could agonize over what amounts to extremely small volatility inside a sideways range or simply lock anything we can before the adverse market fee returns. In cases where it's already back, the outlook is more neutral, but still cautious ahead of next week's Fed announcement. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 884k vs 846k f'cast , 884k prev Producer Prices (core, annual) 0.6 vs 0.3 f'cast , 0.3 prev Market Movement Recap 08:12 AM Treasuries rallied in the first half of the overnight session. Brexit-related headlines and anticipation for a reflationary…(read more)

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