\n No Surprises From Powell. No Major Movement in Rates
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\n Wed, Jan 28 2026, 4:16 PM
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No Surprises From Powell. No Major Movement in Rates<\/p>\n
As expected, the Fed held rates steady today. The statement was moderately more hawkish in that it acknowledged progress on the labor market front and overall economy. To the very small extent that the statement was hawkish, Powell’s press conference could be viewed as counterbalancing due to the non-threatening characterization of inflation and ongoing openness to additional easing if conditions justify it.\u00a0 Bonds are heading out the door almost exactly in line with opening levels and there wasn’t much movement in between.<\/p>\n
09:24 AM<\/p>\n
Just barely stronger overnight and sideways so far this morning. MBS unchanged and 10yr effectively unchanged at 4.248.<\/p>\n
12:38 PM<\/p>\n
MBS down 1 tick (.03) and 10yr up 1.3bps at 4.259<\/p>\n
03:10 PM<\/p>\n
Limited reaction to Fed.\u00a0 Gaining some ground as Powell presser continues.\u00a0 MBS up 1 tick (.03) and 10yr unchanged at 4.246<\/p>\n