\n Sideways Overall Despite Hawkish Fed Speakers
\n <\/p>\n
\n Fri, Oct 31 2025, 3:53 PM
\n <\/p>\n
Sideways Overall Despite Hawkish Fed Speakers<\/p>\n
Although there was some mid-day volatility (early buying followed by slower selling back to roughly unchanged territory), that movement was more in line with month-end tradeflows than any interesting, specific motivations. Nonetheless, there were interesting, specific developments in the form of several comments from several Fed speakers.\u00a0 Rather than display a balanced mix of differing viewpoints, today’s crop of comments was distinctly hawkish across the board. Logan said she would have preferred to hold rates steady this week and can’t see a case for a December cut.\u00a0 Hammack said it’s not clear what the right answer is for rates, but that it’s important to stay restrictive. Bostic said he was glad Powell said a December cut is far from a foregone conclusion.\u00a0 And Schmid said he dissented in this week’s vote due to economic momentum and inflation concerns. While bonds didn’t react to this today, the lopsided hawkishness makes for an interesting 6 weeks of data-watching ahead of the next Fed meeting and dot plot.<\/p>\n
09:44 AM<\/p>\n
A hair weaker overnight, but gaining ground since the open.\u00a0 MBS up 5 ticks (.16) and 10yr down 1bp at 4.086<\/p>\n
11:43 AM<\/p>\n
MBS up 2 ticks (.06) on the day but down an eighth from the AM highs.\u00a0 10yr now up 0.2bps at 4.097<\/p>\n
12:29 PM<\/p>\n
MBS down 6 ticks from highs (.19) and 1 tick on the day. 10yr up 0.4bps at 4.099<\/p>\n
03:17 PM<\/p>\n
MBS down 7 ticks (.22) from highs and 2 ticks (.06) on the day.\u00a0 10yr unchanged at 4.094<\/p>\n