Debt, Savings, Home Buying, Taxes, Relationships
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…Posted To: MBS Commentary
Nice Bounce! Now What? - An early bounce turned into an even bigger, friendlier bounce at the end of the day - Biggest reason for the gains is the losses that preceded them (momentum/technicals/tradeflows) - Still following the 2.5 coupon - Still would like to see better confirmation of a new range with next week's trading (but yes, this is the most promising bounce of this cycle) - RECORD day for positive reprices Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Core PCE Price Index (y/y) 1.5 vs 1.4 f'cast, 1.4 prev Chicago PMI 59.5 vs 61.1 f'cast, 63.8 prev Market Movement Recap 08:39 AM Early supportive bounce in Asia with 10yr yields pushed as low as 1.45%. No major push-back in Europe. Very narrow in recent context. Small, positive reaction to tame inflation data at 8:30...(read more)