Rates were under pressure overnight with 10yr hitting the highest yields in more than 2 weeks. Since then, bonds have surged back into stronger territory but remain more or less blocked by the same old floor.
Market Movement Recap
08:16 AM
Bond weakness continued during Asian hours, but reversed course in the European session. Domestic trading is starting out just barely stronger for bonds and weaker for stocks.
09:16 AM
8:20am CME open brought buyers, plain and simple. It wasn’t huge, but it was enough for a few bps of strength in Treasuries and nearly an eighth of a point of gains in MBS. Stocks aren’t doing anything interesting yet. No other market movers in play.
01:02 PM
MBS were already at best levels, but Treasuries are heading back in that direction after a strong 7yr auction. MBS up a quarter point. 10yr yield down nearly 3bps. Stocks have been rising, but still a hair weaker on the day.
03:37 PM
Best levels of the day now, potentially benefiting from stock market losses. 10yr yields challenging the .58% floor (but not clearly breaking it). 2.0 UMBS up a quarter point at 103.125.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
| MBS |
UMBS 2.0 103-04 : +0-08 |
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| Treasuries |
10 YR 0.5770 : -0.0320 |
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| Pricing as of 7/28/20 3:40PMEST | |||
Today’s Reprice Alerts and Updates
9:16AM : Classic Case of 8:20am CME Open Bringing Buyers For Bonds
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By Matthew Graham , dated 2020-07-28 15:42:43
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Courtesy of Mortgage News Daily