After a stellar Monday and a big reversal on Tuesday, Wednesday stands out as the week’s big shift back toward last week’s trading range.  Today’s session is in a position to finish the job.  That would only require minimal weakness at this point.  The alternative would be a sideways drift that sees bonds close right on the borderline.  Either way, without any major data on tap and the Fed Announcement ahead next week, today is inherently limited in its ability to inform the bigger picture trend.  

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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

101-22 : -0-01

Treasuries

10 YR

1.2830 : +0.0160

Pricing as of 7/23/21 10:26AMEST

Tomorrow’s Economic Calendar

Time Event Period Forecast Prior
Friday, Jul 23
9:45 Markit Composite PMI * Jul 63.7
9:45 Markit Services PMI * Jul 64.8 64.6
9:45 Markit Manuf. PMI * Jul 62.0 62.1

By Matthew Graham , dated 2021-07-23 10:26:26

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Courtesy of Mortgage News Daily

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