Posted To: MBS Commentary
Two days ago, we were able to refer to Monday as the best day of the year, as long as you forget about the Friday before it. Today is the new 'best day of the year,' as long as you forget about yesterday. Even then, it was a fairly close call for MBS, where Fannie 3.0s and 3.5s kept losses at an eighth of a point or less. Although bond markets ended the day at great levels in the big picture, there was plenty of volatility along the way. Treasuries were slightly weaker overnight, keeping pace with equities markets. The domestic morning was uneventful until 10am. ISM Non-Manufacturing came out weak enough to be troubling and bonds rallied to the best levels in 8 months. Oil inventory data was out at 10:30am and it made for a brief move even lower for oil, stocks and bonds. This was the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/20HnN66
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