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Posted To: MBS Commentary

Today was a good day for both MBS and Treasuries. Not only that, but it was good right from the start (courtesy of a positive overnight session) and never got bad. It's not too common to see 10yr Treasuries rally for 2 straight days into an auction with no meaningful pull-back. The fact that this happened today, AND that the auction was still impressively strong is a generally positive statement about the current range. All that said, there hasn't been much for bond markets to sink their teeth into this week apart from following other markets and trading headlines. That changes tomorrow with the arrival of the week's first real economic data in the form of Retail Sales and jobless Claims. With 10yr yields very near their recent middle ground, a big beat or miss in the data could...(read more)

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