MBS MID-DAY: Uneventful Morning, But Positive For Bond Markets

Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary MBS and Treasuries rallied overnight and have continued to hold their ground at those stronger levels in the AM hours. There are several places one can look in an attempt to chalk up the rally to some event or phenomenon, but quite simply, it looks like markets were collectively trading with a “risk-on” mentality and the past three sessions have offered a “risk-off” counterpoint . Such instances can be the beginnings of a reversal or mere consolidations before continuing to weaken . With no data or events to provide guidance, we’d continue to err on the side of defensive until after tomorrow’s FOMC Announcement proves that it is truly the non-event that most market participants expect it to be. MBS Pricing Snapshot Pricing shown below is delayed, please…(read more)

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