Feb
MBS MID-DAY: Holding Gains As Bernanke Speaks, Italy Remains Uncertain
Posted To: MBS Commentary
MBS Live : MBS Morning Market Summary Bond markets experienced a moderate amount of volatility overnight, improving from yesterday’s already impressive rally into the European hours and then backing off ahead of the domestic open. Despite crossing the 8am line just slightly weaker, both MBS and Treasuries have held a remarkably narrow range in line with yesterday’s best-levels (remarkable given the volatility surrounding the rally, and the size of the rally itself). Equities rose out of the gate, pulling bond markets to their weakest levels just after the stronger Consumer Confidence and New Home Sales data at 10am. Since then, everything has been moving slowly in the other direction with MBS hovering around unchanged levels at the moment. Bernanke is currently answering questions in the senate…(read more)