Posted To: MBS Commentary
There are no significant economic reports out this morning, leaving the focus clearly on the afternoon. First up will be the 10yr Treasury auction at 1pm. Treasury auctions are hit and miss as far as their impact on rates markets, but if any particular maturity is capable, it’s the 10yr. Even if the auction would otherwise be prompting a particular move for bonds, there’s plenty of reason to hold off with more pronounced reactions considering FOMC Minutes will be following shortly thereafter. The Minutes provide a more detailed account of the meeting that wrapped on March 18th. That was the one that resulted in less bullish economic projections among Fed members as well as the dovish question and answer session with Yellen afterward. It was also the best rally day of the month (one…(read more)
Via:: MBS Day Ahead: 10yr Treasury Auction and FOMC Minutes; Anything to Learn?
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