Mortgage bond prices stayed positive yesterday afternoon following a positive 30 year auction and despite significant stock strength. The DOW closed up 240 points. The data yesterday morning was mixed. Positive MBS movement was mostly relief following the auction.
The 30-year auction bid to cover ratio was 2.40 stronger than the previous of only 2.02. Solid 46.2% indirect bid.
Retail sales fell 0.1%, not as weak as the expected 0.5% decrease. This didn't initially sit well with bonds.
Weekly jobless claims rose 654,000, higher than the expected 645,000 increase. Trade data and consumer sentiment data will be released this morning.
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Thank you for your remarks. I will review your submission and post it accordingly. Dave.