Saturday , 17 November 2018

MBS RECAP: Bonds Gain Despite Data Surprise and Stock Rally

By Matthew Graham

Posted To: MBS Commentary

Before any discussion about market movement in July, we have to set the stage with some disclaimer about “slow summertime trading.” That was the subject of this morning’s commentary ( read it here , if you like). With that out of the way, we’re equipped to pay the appropriate amount of attention to today’s seemingly interesting events. First up, we had a reasonably strong move in European bonds overnight help set a mildly positive tone for the start of domestic trading. The biggest volume spike of the early morning came at 8:30am in response to the Import Price data, which came in much lower than expected. Bond yields/prices, themselves, only moved a bit, however–a fact that likely reflects the nearness of yields to the lower end of their prevailing range. The other notable…(read more)

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MBS RECAP: Bonds Gain Despite Data Surprise and Stock Rally

By Matthew Graham Posted To: Mortgage Rate Watch Mortgage rates hit their lowest levels of …