Throughout last week, production coupons managed to trade higher by +8/32nds. The Dow was lower w-o-w by -132 points (-0.54%) but the S&P was slightly higher by +7 points (+0.05%). Origination volume remained healthy to close out the week with dealers reporting $5.75B to $7.6B in flows.
Looking ahead, the Fed will be in buying production coupons of UMBS FNCI and FNCL this morning.
Treasuries caught a bid and the yield on the 10y treasury went as low as 0.62% before climbing back to 0.66% in late day trading.
With no economic data on Friday, markets were driven by news of China’s plans to impose a national security law in Hong Kong, anticipation of changes in US/China trade relations and news of vaccine developments.
| Marks @ 7:35am | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
2 Year UST |
0.18% |
||||||||||||||||||
|
10 Year UST |
0.69% |
||||||||||||||||||
|
UMBS 30 2.0%
(Jun) |
101-18+ |
||||||||||||||||||
|
UMBS 30 2.5% (Jun) |
103-13+ |
||||||||||||||||||
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