MBS RECAP: Major Volatility A No-Show On FOMC Day
Posted To: MBS Commentary
MBS Live : MBS Afternoon Market Summary Clearly, the whipsaw movements in MBS and Treasuries are readily apparent in the 2 day minute-to-minute charts that we watch on MBS Live. Additionally, volume spikes did indeed prove that today was the day markets were waiting for. But trading levels!!!!! Trading levels are going out the door basically unchanged from yesterday’s!!! This is extremely disappointing for those of us hoping to see some directional guidance, and mildly heartening for those of us who just want things to stay where they are. Whatever the case, we’d count today as a net-positive for MBS despite the earlier weakness, if for no other reason, due to fact that a majority of recently achieved gains remain intact after the first big-ticket event in almost 3 weeks. On the other hand…(read more)
