MBS RECAP: Another Tough Day For Mortgages

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary For the second straight day , we've seen MBS underperforming Treasury benchmarks. In other words, Treasuries managed to hold steady while MBS lost ground. The discrepancies between MBS and the rest of the fixed-income world over the last few days are definitely more than mere coincidence, but of the potential explanations, it's too soon to say which of them is the most accurate, or if it's not simply a mix of several underlying causes. Some of these potential causes are discussed in the featured comments below. As for the specifics of the day, AM data was rather uneventful and we get the sense that bond markets changed courses after an overnight sell-off more for the general flight-to-quality leading up to (and out of) Obama's press conference. Treasuries...(read more)

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Source: www.mortgagenewsdaily.com

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