MBS OPEN: Overnight Data Moderately Salubrious For Bonds, But 1pm Auction Remains Most Potent Tonic...
By:
Matthew Graham
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- Horrible volume yesterday, no data, and market waiting for today's auction
- MBS outperformed treasuries
- Tsy's Lost Big, MBS just a few ticks, Stocks were up
- Deutsche Bank's profits up on I-banking (what a surprise), but stock slides on cautionary Q3 outlook. BP earnings disappoint.
- So far this AM, stock futures down slightly as tsy's rallied overnight
- 10yr up 10 ticks. yield 3.684
- MBS opening at levels that more or less erase yesterday's moderate loss.
- All quiet before the real data hits
- Case Shiller at 9, Confidence at 10, Yellin' Yellen at 10, biggest mover=Auction at 1pm