MBS RECAP: Fairly Slow: Risks and Opportunities Remain

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Posted To: MBS Commentary

For a week with so much on the calendar and so much at stake, today got things off to a fairly slow start. That's not entirely surprising, given that it had the least going for it in terms of scheduled events. It also happened to be a Monday in the summertime. The overnight trading session made things look even more uneventful, with no meaningful movement during Asian market hours. Things changed in Europe, however, with a series of state-level inflation reports (especially in Germany) serving to push European yields higher. Anticipation for a hike hike from the Bank of England also played a part. Bonds settled down during domestic hours, but not before edging to the highest yields in more than a month (by a few thousands of a percentage point, to be fair). The 9:30am NYSE open brought…(read more)

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