MBS RECAP: Steady Climb Back From AM Weakness

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary Bond markets began the session in incrementally weaker territory than Friday afternoon after having held mostly steady in Europe and Asia. Bigger moves to the downside followed the stronger-than-expected Durable Goods report, with 10 yr yields cracking 2% for the first time since April 2012. MBS hit their lowest levels since before QE3 and rate sheets came out in their worst shape since August. Equities opened up with a fairly swift move lower, which perhaps allayed some fears of being kicked whilst down on the part of bond markets. The rest of the session was characterized by gradually ebbing volume, gradually decreasing volatility, and gradually higher prices for MBS and Treasuries, though the former outperformed noticeably. Several lenders offered...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/293280.aspx

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