Posted To: MBS Commentary
Bond markets stronger overnight New 2-week lows in 10yr yields, but weaker bounce after ISM Biggest issue with ISM was Prices Paid (63.5 vs 59.8), but headline didn't help either (51.3 vs 50.4) 10yr yields were as low as 1.804 this morning as traders took "risk-off" positions to begin the new month. In other words, bond yields were moving lower with stocks and oil prices. Markets found their collective limit around 10am when the ISM Manufacturing data came out stronger than expected. The inflation component was stronger too, making for one less hurdle between the Fed and the stated goal of hiking some time in the next few meetings. Despite the intraday losses, 10yr Treasuries actually hit the 3pm close in better shape than yesterday--even if only slightly. MBS were roughly unchanged...(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/1TKmIW9
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