|This email was sent to you by:|
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 Unchanged and Uninspired
Posted to: Micro News
Tuesday, April 22, 2014 9:07 AM
The week continues to suffer from a lack of participation and excitement (not that excitement is always what we'd want to see when it comes to rates). Although market participants returned from holiday breaks in Asia and Europe, it didn't do a whole lot to reveal any directional biases.
Case in point, Treasuries were insignificantly stronger, then weaker overnight and have been hovering around unchanged levels since the domestic session began. MBS opened a few ticks weaker and gained them back in the first hour. Fannie 4.0s are 1 tick from unchanged and 3.5s are 2 ticks weaker.
The only significant economic data of the day is Existing Home Sales at 10am. Normally, it would make some sense to point out that it's earnings season and uninspired bond markets might take cues from stocks, but so far, the stock lever has been fairly disconnected.
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.