The Smart Team of NOVA® Home Loans

MBS RECAP: Calm, Positive Day For Bonds

Posted To: MBS Commentary

More than any other day in recent memory, today's trend was remarkably narrow for bond markets. That's not to say it was "flat," though. Indeed, there was a certain, much-beloved " diagonal " quality to the trend as it led rates lower and MBS prices higher. All that having been said, the intraday trend belies some overnight movement–albeit to a very small extent. The movement in question came just before the domestic open and was in response to comments from new Treasury Secretary Mnuchin. The most interesting comment for bond markets concerned the topic of 50yr and 100yr Treasuries–something he and others have mentioned previously. It remains very much to be seen if 50 and 100yr bonds will materialize, but the resurfacing of the idea was enough to benefit the…(read more)

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Source: Mortgage News Daily

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