MBS MID-DAY: Back to Pre-FOMC Levels; Here’s Why

Both MBS and Treasuries are back in line with trading levels from the close of business on Tuesday. Today’s gains have been moderate during the domestic session, but border on extreme if we cound the overnight session. For example, 10yr yields were as high as 2.655 and are now down into the 2.5’s. That’s not the kind of movement we typically see on a day without any significant events to motivate trade.

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