MBS RECAP: Wild Ride For Markets, Mortgages Fare Well

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary Wow... Quite a Friday! What, by all rights, could have been an uneventful "fade-to-sideways" into the weekend (and holiday-shortened week ahead) turned out to be the most action-packed day of the week . This might not have been the case were it not for the unexpected headlines that prompted the biggest swings of the day. After markets digested the morning data with bonds/MBS trading a bit stronger on European concerns, a pervasive and substantial flight-to-safety washed over all sectors as Hamas launched rockets into Jerusalem. That took stocks and bond yields sharply lower but the move was completely reversed when congressional leaders emerged from closed-door meetings with the President and had generally positive, hopeful things to say regarding the...(read more)

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Source: www.mortgagenewsdaily.com

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