Daily Market Updates: Mortgage markets edge higher as Treasuries lag oil drop

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Mortgage markets edge higher as Treasuries lag oil drop

Mortgage-backed securities rose 5 ticks, while the 10-year Treasury yield fell less than oil on the day.

Reported · Written up by our desk · Mortgages

Mortgage News Daily reports that the near-term linkage between bond yields and oil prices stayed strong, but yields were less willing to fall as oil dropped more sharply.

The outlet points to two factors behind the relative underperformance in yields, including $139 billion in Treasury auctions and defensive positioning ahead of Wednesday's Fed announcement.

As a result, mortgage performance moved higher, with MBS up 5 ticks, while the 10-year Treasury yield fell 2.9 basis points to 4.654.

Mortgage News Daily said more unrestrained trading may not be visible until after Wednesday afternoon, even as some volatility persists around war headlines.

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Mortgage News DailyCompared to Oil, Yields Not Quite as Willing to Drop

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Mortgage markets edge higher as Treasuries lag oil drop

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