MBS RECAP: Sideways, Slightly Weaker, Monday Offers Clues To Rest Of Week

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary Bond markets coasted into the domestic session after extremely quiet trading during Asian and European market hours. The bias was slightly weaker and MBS traded mostly near Friday's lows to begin the week. Stronger Retail Sales added to the selling pressure early, but the weakness was soon mitigated by news that the Troika won't reach a deal with Greece on the next aid tranche before Thursday's EU Summit. Despite that counterpoint, bond markets remained under pressure throughout the session after hitting their best level of the day just before 11am. The effective "cancelling out" of this morning's economic data by EU factors suggests that Thursday's summit is still in focus despite the high probability of disappointment. MBS Pricing Snapshot Pricing shown...(read more)

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