MBS RECAP: Bond Markets Level Off, Hold Ground Despite Contrary Data

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary Both MBS and Treasuries put in convincing performances today as they held on to morning gains all day without taking part in the same sort of fluctuations that have characterized the past 3 sessions. This is either a convincing performance or merely an incidental one. The fact that both Jobless Claims and the 30yr Auction suggested higher rates combined with the reality of a fairly sideways and uneventful day for MBS and Treasuries spent in moderately improved territory seems to suggest some secret strength underpinning bond markets. Perhaps they really do " want" to hold their ground around current levels, or perhaps it's the same old uptrend in rates following last week's NFP and we're just at the deceptive edge, you decide (or maybe Retail Sales will...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/303983.aspx

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