MBS RECAP: Still Waiting on Bonds to Attempt a Range Breakout
Posted To: MBS Commentary
Still Waiting on Bonds to Attempt a Range Breakout Yesterday's Fed announcement managed to deliver the bare minimum of the market's expectations and underdeliver on fairly reasonable hopes. That resulted in a logical protest from both stocks and bonds. This carried over into today, but bonds have yet to even attempt to break their prevailing range. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 860k vs 850k f'cast , 893k prev Housing Starts 1.416m vs 1.478m f'cast, 1.492m prev Philly Fed Index 15.0 vs 15.0 f'cast, 17.2 prev Market Movement Recap 08:33 AM Stock prices and bond yields drifted lower in the overnight session with 10yr yields almost 4bps lower by 8am. Early econ data isn't hurting with none of the 3 reports…(read more)
Leave a Reply