16
Mar

MBS Claw Back To Yesterday’s Range. Treasuries, Not Quite

Posted To: MBS Commentary

The biggest bouts of volatility were seen this morning in terms of MBS and Treasury movement. Each were deposited on the other side of the noon hour near their best levels of the day and set on a course of decreasing volatility and volume. We’re fond of repeating the notion on Fridays that markets effectively close at noon due to the overwhelming recurrence of lower volumes and less consequential price action in the PM, but we’re understandably wary about thinking about the current week of trading in a “normal” context. But at least for now, bond markets are coasting toward the exit at their best levels of the day. Here’s a longer term look at MBS Prices, showing that we’ve essentially found support at the exactly midpoint between the highs and lows of the “new era” range (meaning, everything…(read more)

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