MBS RECAP: Another Big Bad Day For Bonds


Posted To: MBS Commentary

Yesterday's recap suggested the week had yet to officially begin and that Monday's trading session had been more of an unofficial 3rd day of the weekend. The week definitely "began" for bond markets today, and we'd very much like to go back to that unofficial 3 day weekend, please and thank you! Bonds tanked , obviously, with Fannie 3.5 MBS losing more than a quarter of a point and 10yr yields rising to challenge the important technical ceiling at 2.42%. Much of the weakness was a gift from the overnight trading session, led by European bond market weakness. The latter is most easily seen as defensiveness ahead of Thursday's policy announcement from the European Central Bank. Domestic trading brought some weakness of its own following JP Morgan's weekly update…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Show Buttons
Hide Buttons