MBS Day Ahead: This is How They Get You!

Posted To: MBS Commentary

I thought about making the headline something that pertained specifically to today's events. "Draghi, Durables, and Week's Last Treasury Auction" would have been accurate, but the more important and potentially risky concept is in the title I went with. "This is how they get you." That's not a reference to any specific "they." Rather, we're simply talking about "market movement" in the sense that there's always some sort of mental checkers game going on between markets and originators. Even if your game of checkers doesn't pertain to locking vs floating, most of us still like to feel like we have a sense of the current trends and risks. With that in mind, the past few days have seen several attempts for bonds to recover after breaking...(read more)

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