MBS Day Ahead: Bonds Still Fighting to Stay In The Range

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Posted To: MBS Commentary

Yesterday saw bonds respond almost exclusively to Brexit-related headlines (read THIS RECAP for a synopsis of the day's events and Brexit's impact on the bond market in general). If you're not into clicking links, here's the most relevant excerpt: By refusing to render final approval by Thursday, Parliament is probably unable to get something on the EU's desk in enough time to avoid going past the October 31st deadline the EU had set for Brexit. As such, an extension is likely and we're just waiting to find out how long it will be and if there are any interesting terms. The bottom line is that a DEAL Brexit (as opposed to a "no deal Brexit") remains a definite possibility. That's the greater of two evils for the bond market and a big reason that rates are…(read more)

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