Posted To: MBS Commentary
It’s been a mostly good morning for bond markets. The overnight session saw modest gains during European hours, and Treasuries even managed to hold those gains while European bonds sold-off. That’s not a common occurrence and especially not on a day with a Treasury auction on tap. The outperformance probably would have faded in the domestic session if not for the exceptionally weak Retail Sales numbers. That gave Treasuries and MBS a solid boost, but both were only willing to bounce briefly at resistance levels (101-16 in Fannie 3.0s and 2.05 in 10yr yields). Since then, trading levels have drifted back toward support levels (2.096 in 10yr yields and 101-08 in Fannie 3.0s). The 30yr auction will likely determine whether those are held or broken . MBS Pricing Snapshot Pricing shown below…(read more)
Via:: MBS MID-DAY: In Positive Territory, but Off The Highs Ahead of 30yr Auction
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