We're witnessing the random walk of the winter holiday trading weeks--hoping to see a more sensible range when staffing levels improve in early January. Until then, small steps toward weaker and weaker levels seem to be a common daily agenda for bonds. 10yr yields started slightly stronger, but then leaked to the highest levels in more than a month by the close. MBS walked a similar path, hitting the 3pm down more than a quarter point.
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- Pending Home Sales
- -4.0 vs -0.8 f'cast, -4.6 prev
- Pending Home Sales
Slightly stronger overnight and in early domestic trading. Giving up some gains now with MBS down 2 ticks (.06). 10yr outperforming, down 1.7bps at 3.832
Additional weakness after the 9:30am NYSE open and into the 10am hour. Some suggestion that China/Covid headlines had an impact. 10yr up 3.6bps at 3.885. MBS down just over a quarter point.
Little changed after ho-hum 5yr Treasury auction. Still near day's weakest levels, down just over a quarter point. 10yr up 2.6bps at 3.875
Some additional weakness after the 3pm CME close. MBS down almost 3/8ths and 10yr yields up almost 4bps to the highs of the day around 3.89. Not a big, volatile move--just slow afternoon leakage.
MBS Market Alerts
