AM Gains Mostly Stick Around
Everything interesting about today occurred before 9am ET (several war-related headlines that prompted a sharp rally in bonds). The rest of the day was spent drifting mostly sideways. Stocks continued their surge to new all-time highs. Oil prices fell in concert with the bond rally, briefly dipping below $80/bbl.
Market Movement Recap
08:41 AM Modest overnight gains and then more buying on war headlines. MBS up over a quarter point and 10yr down 5.3bps at 4.262
01:03 PM MBS up 13 ticks (.41) and 10yr down 8bps at 4.237
04:26 PM little changed as the close approaches. MBS up 10 ticks (.31) and 10yr down 7.2bps at 4.244
Bonds Only Modestly Weaker After New Escalation Over The Weekend
Bonds Only Modestly Weaker After New Escalation Over The Weekend
Bonds/oil/stocks saw a small corrective bounce over the weekend after headlines called the peace process into question, but markets agree we’re c…