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10yr Yields Finally Break The Range
10yr Yields Finally Break The Range
Despite an absence of market movers on the calendar, bonds found a reason to move. In fact, 10yr yields staged their first legit breakout from the narrow trading range of the past 4 months. Whether that has any implications for the future is a debate for technical analysts to have with fundamental traders. There was an extra little jolt of mid-day weakness when Trump suggested Hassett was out of the running for the Fed Chair nomination, but the day's bond losses would still be better-characterized as gradual and non-event-driven. MBS outperformed yet again for the same old reason (actual and/or anticipated GSE MBS purchases), but nonetheless ended the week at the lows.
Losing ground from flat, opening levels. MBS down 5 ticks (.16) and 10yr up 4.1bps at 4.215.
Off the weakest levels in MBS, now down 3 ticks (.09). 10yr near weakest levels, up 4bps at 4.214
Down to new lows. MBS down 5 ticks (.16) and 10yr up 5.6bps at 4.23
10yr Yields Finally Break The Range
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Jan 16 | |||||
| 12:00AM | Roll Date - UMBS 15YR, Ginnie Mae 15YR | ||||
| 9:15AM | Dec Industrial Production (%) | Dec | 0.4% | 0.1% | 0.2% |
| 10:00AM | Jan NAHB housing market indx | Jan | 37 | 40 | 39 |
| Monday, Jan 19 | |||||
| 12:00AM | Martin Luther King Jr. Day | ||||
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