MBS RECAP: Bonds Determined To Sell Despite Weaker NFP

Posted To: MBS Commentary

Bonds Determined To Sell Despite Weaker NFP The bond market considered rallying in response to this morning's weak jobs data–at least at first. But it didn't take long for the bears to take over, ultimately pushing 10yr yields up and over 1.10% by the 3pm CME closing bell. The subtle saving graces inside the jobs report were only part of the reason. The bigger concern or perhaps the bigger question is whether or not this is evidence of that "sustained momentum shift" we were worried about heading into the week. The answer is "probably not." Not yet anyway, but it was/is enough weakness to cast some doubt. If we're going to get a bounce that helps ease those concerns, it may depend upon how next week's Treasury auctions are digested. Econ Data / Events 20min…(read more)

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MBS RECAP: Bonds Determined To Sell Despite Weaker NFP
MBS RECAP: Bonds Determined To Sell Despite Weaker NFP

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