MBS Week Ahead: Sparse Data, Treasury Auctions, and Trade Tensions

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Posted To: MBS Commentary

The week begins with bonds trading in much stronger territory thanks to a surprise US/China trade announcement from Trump over the weekend. This changes the tone for bonds heading into the week. Whereas it looked like yields may have been running into resistance at 2.50% (10yr Treasury), they've been under 2.49% at the start of the domestic session. There will not be much by way of scheduled data or events to help inform their direction from here, so we'll have to scrutinize any meaningful movement to determine whether it's indicative of some underlying bias among traders as opposed to simple position-shuffling as markets await bigger news. Monday's calendar is complete empty. Tuesday marks the start of the Treasury auction cycle, but with the least meaningful of the 3 offerings…(read more)

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