After peaking last Wednesday, rates improved a bit to end the week.
They still finished worse overall on the week as bonds pulled back Friday after the BLS jobs data came out.
Wednesday was a prime example of the week’s volatility. Although both mortgage bonds and the 10-year Treasury yield appeared to find their footing, both actually ended the week at their worst levels.
Bonds did improve Friday after the labor market data came in weaker than expected. Brent crude oil is below $100/barrel for the first time in weeks.
This combined with the Fed forecasting to leave rates unchanged should be offering relief in the market, however, bonds are still well below their best levels of late.