Articles

MBS RECAP: Bonds Fight To Remain in Ultra-Narrow Range

Posted To: MBS Commentary

Bonds Fight To Remain in Ultra-Narrow Range Yesterday presented a short-term, small scale threat to the bond market's happy little range. Today's strength has done a good job of minimizing that threat and reinforcing the range. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 837k vs 850k f'cast , 873k prev Core PCE Inflation 1.6 vs 1.4 f'cast , 1.4 prev ISM Manufacturing 55.4 vs 56.3 f'cast, 56.0 prev Market Movement Recap 08:46 AM Bonds were gradually weaker overnight and stocks were gradually stronger. The 8:20am CME open brought out more sellers, and while stronger econ data at 8:30am may not be hurting as much as it may seem, it's definitely not helping. 10yr is up almost 3bps at .714 and 2.0 UMBS are down an eighth…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Leave a Reply