Bonds were mostly flat overnight before a sharp sell-off from 8am through 10am ET. After that, momentum went flat again--especially the last 4 hours of trading. No one is still debating whether or not the AM sell-off was due to Japan's central bank news or a post-holiday return to reality. Yields are back in the pre-Thanksgiving range and ready to respond to this week's bigger-ticket econ reports.
Econ Data / Events
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- ISM Manufacturing Employment (Nov)
- 44.0 vs -- f'cast, 46.0 prev
- ISM Manufacturing PMI (Nov)
- 48.2 vs 48.6 f'cast, 48.7 prev
- ISM Mfg Prices Paid (Nov)
- 58.5 vs 59.5 f'cast, 58.0 prev
- ISM Manufacturing Employment (Nov)
Market Movement Recap
09:27 AM
Mostly flat overnight but selling steadily since 8am. MBS down a quarter point and 10yr up 6.9bps at 4.084
11:09 AM
No reaction to ISM data. Holding at weakest levels. MBS down 9 ticks (.28) and 10yr up 7.6bps at 4.09
02:34 PM
Steady at weakest levels. MBS still down 9 ticks (.28) and 10yr up 7.9bps at 4.093
MBS Market Alerts
