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MBS RECAP: Treasury Consolidation Runs Out of Room, But MBS Keep Gaining

Posted To: MBS Commentary

Treasury Consolidation Runs Out of Room, But MBS Keep Gaining MBS continue to outperform due to favorable supply vs demand. Treasuries continue sideways. In fact, they found a way to express even more uncertainty than the prevailing sideways range of .63-.73 in 10yr yields. Today's trading range? .64-.66. This caps a consolidation trend that will have a hard time getting any narrower. Perhaps bonds are circling the wagons ahead of tonight's presidential debate and prepared for a relatively bigger move tomorrow? Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Case Shiller Home Prices (July) +0.6% vs 0.3 f'cast , 0.0 prev Case Shiller Home Prices (annual) 3.9% vs 3.8 f'cast Consumer Confidence 101.8 vs 89.5 f'cast 86.3 prev Market Movement…(read more)

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