MBS RECAP: Bond Markets On The Ropes Ahead of Fed

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Posted To: MBS Commentary

Bonds start strong after Bank of Japan Announcement' Further improvements after weak Retail Sales revision The gains served as a cue for traders to take chips off the table ahead of tomorrow's Fed events Treasuries moved back into negative territory by the close, but only slightly MBS underperformed with Fannie 3.0s losing 6 ticks on the day Markets giveth and markets taketh away. Bond markets started out in a ' givething ' mood following the Bank of Japan policy announcement late last night. Stocks and bond yields fell steadily into the start of the domestic session. The weak revision in Retail Sales helped push yields as low as 1.915 a few minutes after the data, and that was apparently the signal for the ' takething ' to begin. Bonds weren't much concerned with…(read more)

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