MBS MID-DAY: Moderate Rally Stays Steady Despite Data

Posted To: MBS Commentary

MBS Live : MBS MID-DAY The bond market rally that began with this morning’s stronger opening levels, continues into the 11am hour after the early glut of data and events. Despite digesting Case Shiller, Consumer Confidence, Richmond Fed Index, Fed Speak from Dudley, and scheduled Fed Twist buying, the rally has been remarkably stable so far today. But that stability has encountered a logical stopping point to pause for reflection in the form of 2.21% 10yr yields. This technical level isn’t something that we’d expect to casually move through this morning, and thus far, that has indeed been the case. To whatever extent it continues to be the case, MBS may have troubles moving much higher. Open MBS Live Dashboard FNMA 3.5 102-26 : +0-11 FNMA 4.0 104-28 : +0-07 FNMA 4.5 106-10 : +0-05 FNMA 5.0…(read more)

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