MBS Day Ahead: Still Waiting For The Week’s Bigger Events

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Posted To: MBS Commentary

Bond markets are starting the day in fairly similar territory to Friday's latest levels for the 2nd day in a row. As I said yesterday, this is a precarious position because it leaves bonds right on the edge of an important technical ceiling . In terms of 10yr yields, this is roughly 2.40-2.42% and can be seen in the following chart along with several technical studies. The takeaway is that we've lost a few battles recently, but the tide of the war hasn't definitively shifted against us. Any ability to continue to hold under 2.40-2.42% (let's just say 2.41% for today) is strong show of support when it comes to that broader momentum. With that in mind, we could observe that 2.41 continues to hold despite a very active corporate debt calendar. That means corporations are issuing…(read more)

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