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MBS RECAP: Bond Market Modestly But Disappointingly Weak Despite Stock Sell-Off

Posted To: MBS Commentary

Bond Market Modestly But Disappointingly Weak Despite Stock Sell-Off Bonds started out weaker and looked like they might make a recovery in the afternoon thanks to a big stock sell-off. But yields refused to move back below the .76% pivot point. That's not the end of the world, but if bonds were inclined to rally or if they were feeling resilient, that would have been a good excuse to move into positive territory on the day. Failing to do so sends a somewhat ominous signal about the path ahead. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) NAHB Builder Confidence 85 vs 83 f'cast, 83 prev Market Movement Recap 08:21 AM Bonds modestly weaker overnight with almost all of the losses hitting immediately after London opened. The culprit seems fairly conclusive…(read more)

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