Some Signs of Resilience But It’s Still Anyone’s Game
Some Signs of Resilience But It’s Still Anyone’s Game
1 Hour, 43 Min ago
After several consecutive business days of abject unpleasantness in the bond/mortgage market, Tuesday finally offered a modest consolation. During domestic trading hours, every attempt to push 10yr yields over 5% was met with a supportive bounce–presumably from value buyers targeting 5% as a good entry point to own 10yr notes for investment purposes. We wouldn’t read too much into this just yet. It is a defensible conclusion today (especially in light of oil prices surging over to over $106), but Wednesday’s Fed reaction could completely change the landscape. We’ll discuss “what if” scenarios in today’s recap video.
09:16 AM
MBS unchanged and 10yr up 1.7bps at 5.001
01:08 PM
MBS down 1 tick (.03) and 10yr up 2.2bps at 5.006
03:13 PM
MBS up 1 tick (.03) and 10yr up 1.6bps at 5.00
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