MBS RECAP: Strong Auction Trifecta Helps Bonds Hold The Range

Posted To: MBS Commentary

Strong Auction Trifecta Helps Bonds Hold The Range The day began with a relatively bond-friendly European Central Bank announcement falling failing to help Treasuries nearly as much as it helped European bonds. That was forgivable in light of today's Treasury auction and ongoing corporate bond supply glut. After working through the supply and posting stellar stats at auction, bonds finally got the memo. 10yr yields rallied all the way down to the 1.287% and have been hanging out at the 1.30% technical level heading into the close. MBS underperformed, as we would expect based on the Treasury-focused events this week, with 2.0 coupons gaining an eighth of a point as of 3pm ET. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 310k vs 335k f'cast, 345k prev Market Movement…(read more)

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MBS RECAP: Strong Auction Trifecta Helps Bonds Hold The Range
MBS RECAP: Strong Auction Trifecta Helps Bonds Hold The Range

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