Posted To: MBS Commentary
In the bigger picture, today was all about confirming and consolidating yesterday's gains. Trading levels held inside narrow ranges for both MBS and Treasuries, and neither were flustered when stocks swooped back up toward yesterday's highs. MBS did a better job of being "less flustered" today--i.e. Fannie 3.0s gained 3/32nds in price while 10yr Treasuries lost 2/32nds--for a few reasons. First, there's the corporate bond calendar. Issuance was by no means active. In fact, there was only one announcement. But the company in question was Apple--well known for their big corporate bond offerings. Here's a refresher on how corporate bonds impact other rates if you need it. The takeaway is that Treasuries are more affected than MBS. MBS also tend to reap marginal benefits...(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/2azKycM
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