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MBS RECAP: Moderate Weakness For Uneventful Reasons
Aug 20 2021, 4:07PM

Bonds lost some ground today with 10yr yields up roughly 2bps heading into the 3pm CME close and 2.0 MBS down an eighth of a point.  Viewed holistically, the week was very calm and yields ended right in the middle of the range (1.22-1.30% in the narrowest terms).  There were no sensational stories behind the move--just the sort of housekeeping trades we often see on the Fridays heading into auction cycle weeks.  In other words, the weakness was incidental, and the skids were further greased by illiquid trading conditions.

Econ Data / Events
Market Movement Recap
08:31 AM

Very slightly stronger overnight amid low volume/volatility and linear move.  Good candidate for 3rd weekend day for market participants until further notice.

01:17 PM

Steady weakness all day with MBS now down an eighth of a point on the day.  10yr yields are at their highs, up 1.9bps at 1.262.  No discrete cause and effect in terms of data or events.  Traders are increasingly pulling up anchor ahead of next week and those trades are prompting other trades amid light liquidity.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
UMBS 2.0
101-08 : -0-04
10 YR
1.2550 : +0.0130
Pricing as of 8/20/21 4:07PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
12:57PM  :  ALERT ISSUED: Negative Reprice Risk Increasing
10:05AM  :  ALERT ISSUED: MBS Down An Eighth From AM Highs
9:36AM  :  Bonds Briefly Turn Red Amid Light Volume/Liquidity

About the Author

Chief Operating Officer, Mortgage News Daily / MBS Live
A former originator, Matthew began writing for Mortgage News Daily in 2007, covering a wide range of topics. Seeing a need in the marketplace, his focus increasingly shifted toward relating MBS and broader financial markets for loan originators. ... more

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Mortgage Rates:
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