Thursday, January 26, 2023 | The Latest Buzz for the Appraisal Industry

MBS MID-DAY: Volatility Within a Range Ahead of FOMC

By Matthew Graham

Posted To: MBS Commentary

Treasuries once again broke away from the pack in the overnight session and moved higher in yield. Cues from related markets didn’t suggest that weakness , but we saw a similar move early Monday morning. In both cases, yields had stretched down to recent lows in the previous day and overnight trading acted as a technical correction. Looking at this another way, we could also conclude that the overnight session didn’t offer the same level of ‘fuel’ for an ongoing flight to safety. As we’ve discussed on several occasions recently, the bond rally requires a constant, fresh supply of disturbing global market developments in order to continue breaking new ground. Instead, last night was pretty uneventful in the context of recent volatility. Heading into the domestic session,…(read more)

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