Strong Friday For Bonds Helps Keep Sideways Vibes Intact
2 Hours, 27 Min ago
Friday ended up being surprisingly strong for the bond market with the best rally of the week in the long end of the yield curve. European bonds were a key consideration early, but the quarterly rollover in Treasury futures probably added some emphasis to the gains. 10yr Treasuries fully erased the sharper losses seen Wednesday and Thursday. Unfortunately, those sharper losses happened to be threatening the technical ceiling at 4.32%, so Friday’s rally is best described as merely keeping the broader sideways vibes intact.
10:01 AM
Slightly stronger overnight with additional gains in early trading. MBS up 6 ticks (.19) and 10yr down 3.4bps at 4.297.
01:35 PM
Steady gains all morning. Fed comments not hurting. 10yr down 8.5bps at 4.246. MBS up 3/8ths.
03:16 PM
Sideways near best levels with MBS up nearly 3/8ths and 10yr down 7.1bps at 4.26
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