Posted To: MBS Commentary
With the exception of only a few trades during a few minutes, Fannie 3.0 MBS prices have remained in a range of 101-28 to 101-29 this morning. That’s super narrow! It’s already resulting in a few “stability reprices” as lenders are refreshed by the break from the normal volatility. 10yr yields are about 3.5bps lower, and making slightly better directional gains than MBS. GDP data came and went this morning without much fanfare. This was one of the fairest expectations this morning. In addition to the fact that markets have moved on to thinking about Q1 GDP for 2015 (today’s was Q4 2014), markets simply haven’t been very interested in economic data this week–not bond markets anyway. Even then, the result was 2.2 vs a 2.4 forecast–close enough to be considered “in…(read more)
Via:: MBS MID-DAY: Bonds Taking a Break from Volatility, Especially MBS
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