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MBS RECAP: Technicals And Fundamentals Join Forces to Deliver Warning For Rates

Posted To: MBS Commentary

Technicals And Fundamentals Join Forces to Deliver Warning For Rates Whether we're talking about the week as a whole or simply today's trading session, bonds tried to convince us they were in good shape only to give up the gains and head back toward weaker levels. MBS are outperforming, but the Treasury weakness got bad enough to pull everything higher in the rate world. Next week's fundamental risks serve as an unpleasant compliment to today's technical failures in Treasuries. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Q3 advance GDP 33.1 vs 31.0 f'cast, -31.4 Jobless Claims 751k vs 775k f'cast, 791k prev Market Movement Recap 08:55 AM Limited reaction to the GDP number which showed the economy made it back to 86.7% of its strength…(read more)

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