MBS RECAP: Modest Gains After Weaker Data; Waiting on Greece, Yellen

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Posted To: MBS Commentary

There's nothing new to report from the MBS Mid-Day as bond markets continued to trade well within the morning's range through the close. The best levels were set right after the weaker-than-expected Retail Sales data. 'Domestic data moving markets?!' you ask? Yes. It happened. Crazy , I know. It's not that Retail Sales shouldn't have moved markets. It's just that nothing else really made a dent today. In a broader sense, both German and US 10yr yields are still consolidating their big sell-off from Friday, when optimism picked up regarding Greece. We're still right in line with the new-found weakness seen on Friday, for what it's worth. In fact, at 2.40, we're not even close to Friday's better levels (2.34-ish) and even farther from Thursday's...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/488648.aspx

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