MBS RECAP: Bonds Weaker as Buyers Cover Shorts Early, Then Disappear

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Posted To: MBS Commentary

Once again, the bulk of the day's recap was inadvertently captured in the mid-day-commentary. Feel free to read that instead of this if you want. If you're not into clicking links, here's a redux : As expected, the evaporation of liquidity ahead of the Thanksgiving holiday week began today. It was most pronounced after the European close. The imbalance clearly favored sellers in today's case, making for a quick spike in yields and a quick drop in MBS prices. Most lenders repriced negatively. One additional factoid has come to light since the mid-day commentary, and it provides a strong piece of evidence for today's imbalance favoring sellers. The Commitment of Traders report comes out every Friday, conveying the official positions held by traders as of Tuesday. All across...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/534248.aspx

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