MBS CLOSE: Prices Decline All Day, Still End Up in Green
ByPosted To: MBS Commentary
In terms of DAY-OVER-DAY change, MBS gained 7 ticks in 4.5's and 4 ticks in the adjacent coupons, bringing prices to 99-09, 102-01, and 104-19 in 4's, 4.5's, and 5's respectively. But as far as the majority of the days directionality, it felt a lot more like a "down day." Maybe that's because it looked more like a down day as well. Major price positivity was concentrated at the open and only lasted 2 hours. From there, it was a slow, range-bound trickle back towards 102-00, even if the tsy auction would like you to believe otherwise. Tsy's did a bit better perhaps, with the 10yr note up 11 ticks bringing the yield to 3.388. Though perhaps slightly above 3.380 proper, we've seen 3.38+ quite a few times in recent months as we've tracked the inflection…(read more)