Good times are still mostly rolling in despite the token correction on Friday 1hr 5 min ago Good times are still mostly rolling in despite the token correction on Friday Bonds sold off on Friday, with the easiest scapegoat being the extra strong Consumer Confidence number (72.6 vs. 65.5 f’cast). 10yr yields remained below yesterday’s highs, and although MBS prices were lower than they were yesterday, they outperformed Treasuries earlier in the week. In short, most of the gains for the week remained the same. In fact, given that it was a summer Friday with very strong data after 4 consecutive days of gains that pushed bonds into overbought territory in the short term, one would consider a 6 basis point rally to 10 year yields and a loss of 3/8 of a point. in MBS. To be a victory of some kind. Consumer confidence 72.6 vs. 65.5 f’cast, 64.4 previous sentiment, present situation 77.5 vs. 70.4 expected forecast, 69.0 Inflation forecast a year ago – 3.4 vs. 3.3 f’cast 5 years – 3.1 vs. 3.1 f’cast 10:05 am Modestly weaker all morning with sharper selling after the sentiment data. MBS is down 3/8s and 10 yrs at about 4 bps. 01:02 PM Additional weakness in the evening hours, but now stabilizing and recovering. 10 years at 3.81. Mohammed bin Salman is down only a quarter. 04:05pm 10 seconds weakest of the day (up 6 basis points at 3.827) and down 3/8 in MBS (not today’s weakest). Download our mobile app to get alerts on MBS Suspension, MBS Stream and Treasury Rates.
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