The day before and/or after a 3-day weekend is more volatile than the average weekend-adjacent trading day. Last Friday fit that bill but today could have been mistaken for a summertime Monday (despite being a wintertime Tuesday). There were no significant reports and the available Fed comments weren't actionable. After nearly touching 4.0% in the overnight session, 10yr yields climbed slowly to 4.06 by 10am and then held mostly sideways through the close. Considering the scope of last week's rally, a "mostly sideways" day is a victory. On a cautionary note, the absence of follow-through and the overnight bounce underscore resistance potential near present levels.
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- NY Fed Manufacturing
- 7.1 vs 7.7 prev
- NY Fed Manufacturing
Modestly stronger overnight. MBS up 1 tick (.03) and 10yr down 1.4bps at 4.036
weaker in the early trading. MBS down 1 tick (.03) and 10yr up 0.7bps at 4.055
Weakest levels. MBS down 2 ticks (.06) and 10yr up 1bp at 4.058
heading out fairly flat. MBS down 1 tick (.03) and 10yr up 1.1bps at 4.059
MBS Market Alerts
