Rates Fall But Going Gets Tough; Pending Home Sales Say "Housing's Back"

Bonds Break Key Levels After Fed Both MBS and Treasuries were right on the edge of their recent ranges heading into Fed day. MBS broke their range right out of the gate while Treasuries waited until the Fed was done before their breakout. If this positive momentum retreats tomorrow, it will be a great lock cue. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Pending Home Sales +16.6 vs +15.0 f’cast , +44.3 previously Market Movement Recap 08:13 AM Very quiet overnight session ahead of Fed announcement this afternoon. Stocks weakened slightly at first, but bounced higher in Europe. 10yr yields are up less than 1bp and MBS are starting the day unchanged. 01:13 PM Steady gains in MBS despite modest weakness in Treasuries and gains in stocks. Credit goes to the
Rates Fall But Going Gets Tough; Pending Home Sales Say "Housing's Back"
Rates Fall But Going Gets Tough; Pending Home Sales Say "Housing's Back"

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