MBS RECAP: Forgettable

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Posted To: MBS Commentary

I'm going to write at you from an analytical standpoint for a moment. Sorry, I just have to vent. Today was completely forgettable. In fact, the past 2 weeks have been pretty boring , with only a few exceptions. It's not under-complicating things to simply leave you with the following chart and the message that anything that occurs inside the oval isn't worth discussing. But as you know, I have a hard time leaving things at 1 paragraph. So here's a 2nd for those who want the nuts and bolts (and simply to catalog the day). Bonds began US hours unchanged and quickly lost a very small amount of ground after the 9:30 NYSE Open. This suggests trading was thin and uninspired, thus leaving ETF-related tradeflows to have a visible impact on Treasury yields. The 10am Consumer Sentiment…(read more)

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