MBS RECAP: Falling Into Line After Shaky Start

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Posted To: MBS Commentary

Bonds were weaker overnight and lost more ground early intermediate range boundaries held (1.755 in 10yr yields) as a ceiling Bonds came back quickly, but found resistance at Friday's low yields (1.714) MBS outpeformed again as Treasuries took more damage from corporate issuance MBS "roll" tonight, and thus will be missing about a quarter point tomorrow morning Like many Mondays, today ended up being better described as an unofficial 3rd weekend day. In fact, last Friday was similar, both in terms of volume and volatility. Bond markets found their way into just slightly weaker territory today, but easily returned to Friday's range by the noon hour. From that point on, Treasuries held sideways and MBS inched toward the highs of the day. There were no significant economic reports…(read more)

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