Bonds had a significantly calmer day in terms of day-over-day change. In fact, by the 3pm close, both MBS and Treasuries were close enough to unchanged. There was a bit of intraday volatility that saw bonds attempt to stage a little rally only to give it all up by the noon hour--the latest reminder that we're dealing with some asymmetric risks over the next few weeks.
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- Housing Starts
- 1.354m vs 1.350m f'cast, 1.356m prev
- Building Permits
- 1.428m vs 1.46m f'cast, 1.47m prev
- Housing Starts
Initially weaker overnight, but back into positive territory by the open. 10yr down 2.2bps at 4.18 and 5.5 UMBS up 3 ticks (.09).
Back to weakest levels. MBS unchanged and 10yr nearly unchanged at 4.199.
Worst levels just after noon, but bouncing back a bit now. MBS up 1 tick (.03). 10yr unchanged at 4.202.
Drifting sideways since last update. MBS up 1 tick (.03) and 10yr down 0.4bps at 4.198
MBS Market Alerts
