|This email was sent to you by:|
Anonymous User |
Mortgage News Daily
Email alerts, such as this one, are a free service
provided by Mortgage News Daily. If you would like to receive an alert when important news breaks
please register to join our community
Bond Markets Modestly Stronger into AM hours; Stalled Out for Now
Posted to: Micro News
Friday, December 13, 2013 9:18 AM
The overnight session was inconsequential for Treasuries with no trading ranges tested. Asian hours were stronger. European hours were weaker, and 10yr yields were unchanged at 730am.
From there, bond began rallying as domestic trading picked up. Short-covering met with black-box buying at the 8:20 CME open. The algorithmic support continued through the inconsequential PPI numbers and was exhausted by 9am.
10yr yields experienced all of the above as just under a 2bp drop and Fannie 4.0 MBS as a 6 tick gain. 10's are currently down 1.8bps at 2.859 and Fannie 4.0s are up 5 ticks at 103-12. There are no significant economic reports for the rest of the day.
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.