|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 Slightly Weaker; Some Volatility
Posted to: Micro News
Monday, April 28, 2014 9:20 AM
Treasuries drifted into weaker territory to start the overnight session and never made it back below Friday's closing yields. On a relative basis, German Bunds have been much more volatile than Treasuries, and they've been behind some of the moves seen so far this morning.
Most notably, Bunds (Germany's 10yr government debt) began rallying to their best levels of the day just after 8am. Treasuries followed with US 10's nearly hitting 'unchanged,' but both bounced just after 9am. Despite several headlines on US/Russia sanctions, Bank of America capital plans, and the ECB QE outlook, markets lack conviction so far this week.
MBS took cues from Treasuries to open in noticeably weaker territory and to rally from there. But unlike Treasuries, MBS haven't given up as much of the rally and Fannie 4.0s are currently holding unchanged levels.
The only domestic data on tap is Pending Home Sales at 10am, expected to come in at 95.3
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.