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Posted To: MBS Commentary

Back on Thursday afternoon, bonds/rates looked as if they were just wrapping up the process of climbing into position between the old range and the brand new range (2.52-2.55percent ). The anticipation was that rates would be making a decision between a few of those two ranges with NFP being the large market mover that it is. However, bonds then decided to head the other direction and touched the greatest yields in 2 + months as it happened. But they didn't head the other direction in a way. For many practical purposes, in fact, speeds continued to fly a holding pattern at the border of both ranges. That happening continued today with yields edging back around 2.52% after temporarily making it below 2.50% at the overnight session. For their part, MBS weren't too troubled from the Treasury…(read more)