MBS MID-DAY: Holding Moderate Gains, Waiting For FOMC Minutes

Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary Bond markets traded fairly well overnight and remained in an exceedingly narrow range throughout. Both MBS and Treasuries hit New York just barely into positive territory compared to Friday’s latest levels and have remained within a few ticks of opening levels throughout the morning. The only scheduled economic data, NAHB’s Housing Market Index, was a non-event, with the more pronounced movements in stocks and bonds being seen roughly 10 minutes before the data. These were driven primarily by a pickup in equities at the beginning of the cash session (for the day and the week), but a limited impact on bond markets. That may be the only discernible theme so far this morning: bond markets holding ground vs advancing stocks. The best guess there (besides serendipity…(read more)

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