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MBS RECAP: Sideways, Boring, and Slightly Stronger

12/22/2021


Posted To: MBS Commentary

Sideways, Boring, and Slightly Stronger 10yr futures contract volume was roughly 600k by 3pm. That's on par with the typical half day meaning today was the lowest volume full trading day of the year. Tomorrow will be even lower. Neither day was likely to be consequential. There was a smattering of econ data this morning but no reaction for bonds. The only action on the day consisted of slightly better buying at the CME open (after 8:20am ET) and slightly better selling after the NYSE open (9:30am ET). Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm GDP (q3, final) 2.3 vs 2.1 f'cast, 2.1 prev Consumer Confidence 115.8 vs 110.8 f'cast, 111.9 prev Existing Home Sales 6.46 vs 6.52 f'cast, 6.34 prev Market Movement Recap 08:33 AM Stronger at the start of the overnight session...(read more)

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