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MBS and Treasuries reverse course after morning yield dip
By the close, 10-year yields were up slightly to 5.244% while MBS were down just 2 ticks, after turning positive later in the day.
Mortgage News Daily said there was no major new underlying economic news or data driving the session, but bond price action moved in a clear pattern during the day.
The outlet described yields falling early, then reversing to finish back in positive territory by the close, with long-term yields remaining broadly sideways at levels near the week’s highs.
It added that MBS outperformed Treasuries and turned green by the afternoon even as 10-year yields were slightly higher.
By the close, MBS were down only 2 ticks, about 0.06, while 10-year yields were up about 1.4 basis points to 5.244%, with attention shifting to next week’s data.