This is how they get ya! It's a classic sales tactic. The bond market softened us up with nearly 2 straight weeks of losses so that we'd be inclined to say "nice gains" about a dinky little quarter point rally in MBS. A quarter point?! That's nothing in 2022, yet here we are. Nice!
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- Jobless Claims
- 225k vs 225k f'cast, 216k prev
- Jobless Claims
Modestly stronger overnight with some additional buying after the claims data (not necessarily because of it). 10yr down 3bps at 3.856 and MBS up 5 ticks (.16).
Not much reaction to 7yr auction. Decent gains before that. MBS up just over a quarter point. 10yr yield down 5.3bps to 3.833.
Best levels occurred shortly after the 7yr auction. 10yr Treasuries have backtracked slightly, now down only 4.5bps at 3.841 and MBS are flatter, still up just over a quarter point.
MBS Market Alerts
