MBS Day Ahead: Bonds Running Into Same Rate Floor Ahead of Fed

By Matthew Graham

Posted To: MBS Commentary

Fed day tomorrow! We’ll finally get to see what’s what with respect to recent speculation and a factual shift in tone from several Fed members (including Powell). But we have a day and a half of trading to get through before that happens. As today’s trading ramps up, we’re seeing starkly clear confirmation of the consolidation range that I can’t stop talking about over the last week and a half. The boundaries are now clearly set at 2.92% overhead (successfully defended as a ceiling on Wed/Thu last week) and 2.82% (which has offered several floor bounces starting on December 6th). 2.82% is highlighted on the chart because that’s the boundary we’re closer to this morning. In fact, yields bounced there in the overnight session, and from a purely technical standpoint…(read more)

Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Via:: MBS Day Ahead: Bonds Running Into Same Rate Floor Ahead of Fed

      

Comments

About Mortgage News Daily

Mortgage News Daily

Check Also

Class Valuation invests in tech company InsideMaps to bring digital imaging to appraisals

By blane@housingwire.com Class Valuation, a growing appraisal management company that recently changed its name from …