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Yes to the lending solution that meets every client’s unique needs and wants.
That’s why we dedicate our every resource to serve as your personal guide through the lending process, solving problems, building confidence. Aslan has access to every lending option leading to the purchase or refinance of a residential home loan.
This is more than work for us. It is our unique joy in this life to share our collective skill, creativity, and care to bring you and your family right to where you belong.
What to Make of Week's Weakest Levels After Solid PCE Data
Fri, Jun 28 2024, 3:34 PM
MBS Recap
What to Make of Week's Weakest Levels After Solid PCE Data
MBS Recap Matthew Graham | 3:31 PM
What to Make of Week's Weakest Levels After Solid PCE Data
Things looked good for the bond market earlier this morning. While yields were still quite a bit higher than those seen earlier in the week, there was an immediate, positive response to the on-target PCE data. The gains didn't last long with sellers running the table mostly between 10am and 11am ET. While some of the move could be due to traders moving to the sidelines ahead of near-term potential political developments, month/quarter-end positioning likely had a much bigger impact. Bonds ended the week at their weakest levels, but this pull-back doesn't inform next week's trading in the slightest. That honor goes to the active slate of bigger ticket economic data.
slightly weaker overnight and slightly stronger after data. MBS up 6 ticks (.19) and 10yr down 2bps at 4.267
11:08 AM
Tanking now. 10yr up 5.3bps at 4.34. MBS down an eighth on the day and a quarter point from rate sheets.
03:04 PM
Still near weakest levels. 10yr up 6bps at 4.346 and MBS down 6 ticks (.19).
Lock / Float Considerations
4.29% is broken as technical ceiling, yet again, but we'd hesitate to read much into that considering the month/quarter-end trading day. The upcoming week will provide a better sense of prevailing momentum, but the biggest reports (like NFP and CPI) can always cause abrupt reversals.
Yes to the loan that unlocks the joy of home ownership.
Yes to the lending solution that meets every client’s unique needs and wants.
That’s why we dedicate our every resource to serve as your personal guide through the lending process, solving problems, building confidence. Aslan has access to every lending option leading to the purchase or refinance of a residential home loan.
This is more than work for us. It is our unique joy in this life to share our collective skill, creativity, and care to bring you and your family right to where you belong.