Posted To: MBS Commentary
The easiest way to facilitate a mid-day update today will be to simply copy and paste a morning update from MBS Live . Before I do that, and because I know the following content isn’t super tangible, here’s a bullet point breakdown: Bond markets largely unchanged overnight, then began weakening into domestic hours Key culprit is corporate debt issuance which causes selling pressure in Treasuries Potential supporting actors include an earlier speech from Fed Vice Chair Fischer Treasuries are leading weakness and MBS are outperforming again (typical when corporate issuance is the driver) Without further ado, here’s the morning update that MBS Live members received at 9:30am: There’s nothing bond markets can do about a relentless slate of corporate debt issuance apart from simply…(read more)
Via:: MBS MID-DAY: Another Day, Another Smackdown From Corporate Debt Issuance
