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MBS Morning: More Data, But Not Necessarily More Excitement

12/28/2021


Posted To: MBS Commentary

Like Monday, bonds traded flat to slightly stronger in Asia, were closed in London, popped a bit higher in early domestic trading, and are now dropping into positive territory. Volume, liquidity, rhyme, and reason are all lacking, but we don't need any of that considering our current spot in the bigger picture trading range. Today brings a few more data points, both in terms of econ reports and the 5yr Treasury auction at 1pm (the day's biggest potential market mover). Even then, there's a high bar for any of this week's market movement to inform the bigger picture. This is due both to the slower trading typically seen in the last week of December as well as the waiting game surrounding the omicron variant (i.e. case counts are clearly surging in some places, but it remains...(read more)

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