Another day, another opportunity for MBS prices to hit record highs and rates to--well... rates are just sort of kicking around a piece of ground in their home town (at all time lows), but notably, they're not looking too eager to improve. Why is that and what should you do about it?
-
20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th)
-
Core PCE Inflation 0.9 vs 1.0 f'cast
Bonds began the overnight session slightly stronger and chopped around in a narrow range since then. 10yr yields are starting the domestic session down about 1bp. 2.0 UMBS are starting out up 2 ticks (+0.06).
Quick, serendipitous weakness just now taking 10yr yields 2 bps higher and MBS an eighth lower. Looks like the bounce may be in already though. Month-end trading.
Stocks are sliding and bonds have bounced back a bit. 10yr now unchanged and 2.0 UMBS up 2 tick (0.06).
MBS surged into the close, ending the day more than a quarter point higher at new all-time highs. 10yr yields are effectively at all-time lows (for those who throw out March 9th craziness). And all this despite a nice recovery to stronger levels in stocks. Farewell July!
MBS Market Alerts
