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MBS RECAP: Bonds Finally Have a Boring Day

Posted To: MBS Commentary

Bonds Finally Have a Boring Day 10yr yields traded in a range of less than 3bps during the domestic session today. From 10:30am on, that range narrowed to only 1bp. We haven't had a day like this in a while–3+ weeks at the very least. When things are flat and boring, there's not much to say that hasn't already been said this morning. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 348k vs 363k f'cast, 377k prev Philly Fed Index 19.4 vs 23.0 f'cast, 21.9 prev Market Movement Recap 09:33 AM Stronger in Europe after opening flat in Asia. Domestic hours have gone to sellers. Data didn't have an impact. Technical resistance in play at 1.22+ in 10yr. Currently up to 1.252%, but still 1bp lower on the day. MBS are effectively unchanged at 101.34 (101-11…(read more)

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