Uneventful And Slightly Stronger
Although volumes picked up a bit versus Friday, no one would confuse the late December bond market from exhibiting any unexpected signs of life. A stronger open in Europe made for a modest improvement overnight and almost all of the domestic session was spent treading water at those same levels.
Econ Data / Events
Pending Home Sales
79.2 vs 74.9 prev
Market Movement Recap
10:12 AM Modestly stronger overnight and holding sideways so far. MBS up 2 ticks (.06) and 10yr down 1.6bps at 4.117
03:38 PM Minimal volatility all day. MBS up 2 ticks (.06) and 10yr down 1.9bps at 4.114
Not Quite The Rally You’d Expect, But a Rally Nonetheless
Not Quite The Rally You’d Expect, But a Rally Nonetheless
Today’s vitals might be a bit confusing at first glance. Payrolls came in at -23k versus forecasts of 80k. At most moments in history, that would be wor…