MBS CLOSE: Uneventful End To Uneventful Day
Posted To: MBS Commentary
Though MBS were not quite as thinly traded as treasuries (lowest volume since the first trading day of 2010), the picture wasn't much better. At least that which is at risk on low volume days–volatility due to the trading that actually happens comprising a larger portion of the total–was not present. Quite the opposite in fact, as the the same trend that began to emerge early this afternoon remained intact through the close. In MBS, the 101-07 to 101-10 range covered almost everything since 1030 AM. That's a quiet, boring day. I move a lower trendline down to 3.57 on the 10yr yield to show that we're going out today at an even lower yield level than Friday. So don't let the entire day of slightly worse readings fool you… The net effect for both markets was FLAT. And in the…(read more)
Written by Matthew Graham on February 8th, 2010 with
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