From Matthew Graham at Mortgage News Daily: MBS RECAP: Bonds Improve After Treasury Auction; Why MBS Are Lagging
Bonds began the day weaker, but improved steadily after the 10yr Treasury auction. MBS underperformed–partly because the Treasury auction brings more direct benefit for Treasuries, but for a few other reasons as well. [30 year fixed 3.20%]
emphasis added
Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• At 8:30 AM, The Consumer Price Index for September from the BLS. The consensus is for a 0.3% increase in CPI, and a 0.3% increase in core CPI.
• At 2:00 PM, FOMC Minutes, Meeting of September 21-22, 2021