110 basis points
On MacroVoices, Harley Bassman discussed mortgage-backed securities’ option convexity and said the par mortgage bond spread is about 110 bps over Treasuries and widening. He attributed the widening mainly to higher rate volatility and a flattening/inverting yield curve, which increases negative convexity in mortgages; he warned that further curve inversion could worsen spreads and impact broader fixed income given mortgages’ market share 1.
From the window to Sep 23, 05:30 ET — this window's take is still to be written.
Where the voices land
Nobody took a position this week.
Mentions
0 this weekStories it travels in
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The stories
- ○ a voice, on the left
- ◌ a voice raising half of these
- ● a subject, on the right, under its story
- ⌒ a line is a voice raising a subject — thicker, more items; colour is the story
The stories this entity travels in: on the right, each story with the subjects seen alongside it; on the left, the voices that raised them, and a line for every subject a voice raised, bundled by story. Tap a voice to light everything it raises, a subject for who raised it, a story for its own lines. The crumb goes back.
Who brings it up
Nobody in this window.
See what your own voices say about 110 basis points, every morning.
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