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Bond Markets Trudge Back into Positive Territory
Posted to: Micro News
Monday, March 24, 2014 11:47 AM
MBS and Treasuries continue exploring their post-FOMC ranges, with both opting to stay contained by previous highs and lows. The weaker opening levels brought yields near Friday's highs and MBS prices closer to recent lows. Weaker stock markets after the 9:30am cash open have coincided with a push back into positive territory for bond markets.
This makes the 3-day trend "sideways to slightly positive and Fannie 4.0s are just now breaking decidedly into positive territory day-over-day. Fannie 4.0s are up 2 ticks at 103-28, but because they began in negative territory, they're up 5 ticks from morning rate sheet print times, making positive reprices possible--even 'likely' for some lenders.
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