The Week Ahead: Home Sales, Durable Goods, Lack of Liquidity

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Posted To: MBS Commentary

Treasuries are gaining lost ground for the third consecutive trading day. This represents the longest stretch of improvements in December thus far. The benchmark 10-year yield is down another 6.8bps at 3.27%. The Fannie Mae 4.5 MBS coupon is +11/32 at 102-11. From AQ's MBS close on Friday.... December floaters shouldn't be comfortable yet. You should actually be pretty antsy. That's how the market will behave next week at least. The week ahead will be defined by Christmas parties, hangover headaches, out of office replies and a straight up lack of trading liquidity (can it dry up anymore???) That means the potential for price chopatility is high. Now. That isn't necessarily a bad thing. Volatility was very friendly to our cause on Thursday and Friday. But December floaters should still be pretty...(read more)

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