After Eerily Stable Journey, MBS Level-Off Near All-Time Highs

Posted To: MBS Commentary

In both long and short term contexts, MBS’s march to the top has been uncanny in terms of its stability and determination. Lately we’ve noted with increasing frequency, the fact that MBS have been less prone to price volatility than their Treasury counterparts–losing less on the down days in exchange for tamer rallies on the “up” days. This phenomenon isn’t exactly new science, but examples have been increasingly clear. The video snapshot below from MBS Live shows this dynamic in the short term. Treasuries move was more pronounced relative to their recent trading range while MBS never rose beyond their 930am Highs. Looking now at MBS over a longer time frame, we see that the gains have an almost premeditated regularity. MBS look like they know where they must go, but have asserted that they…(read more)

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