MBS RECAP: Big Morning Swings Take Their Toll, Modest Recovery

Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Unlike the well-forecast storm in the northeast, movements in bond markets this morning were less well-telegraphed. That said, this mornings pre market post (read it HERE ), did a fairly good job of calling out the two key themes of the day: more room for weakness than positivity in Treasuries and extra volatility potential for MBS. In fact the 1.953% resistance level we mentioned actually turned out to mark the 3pm close in 10yr Treasuries. The path to get there was admittedly more circuitous than we might have imagined, however, with bond markets starting out the day well into the green only to sell off early and claw their way back by the end of the day. The initial sell-off was VERY much a 9:30am sort of thing, suggesting heavy connection to asset...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.http://www.mortgagenewsdaily.com/mortgage_rates/blog/295205.aspx| Call Bonnie Kelly for all your real estate needs: 505-350-8672 @ uwad.com