12
Jul

MBS RECAP: Drifting Uneventfully Into Weekend

Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary For all the sturm and drang surrounding mid-day market movements inspired by dueling ideologies between Fed speakers, MBS are inching toward the door within a few ticks of unchanged. Treasuries are just slightly weaker, but ended up holding under the 2.62 ceiling in 10yr yields easily. Volume was light (only Tuesday was lighter) as markets are predictably more interested in next week’s meatier calendar with Retail Sales on Monday and Bernanke’s Humphrey Hawkins testimonies later in the week. Trading is still edgy around instances of Fed-speak, but consider that the trading range this week was a mere 20bps (10yr benchmark) with FOMC Minutes and Bernanke in play as opposed to 50bps on the week of the FOMC Announcement. Slowly but surely, we MIGHT be learning…(read more)

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