Posted To: MBS CommentaryTraders Move to Sidelines Ahead of Fed Announcement September’s big Fed announcement doesn’t hit until next Wednesday, but it’s not too early for markets to freak out about it a little bit. The fear is expressed in the form of a move to the sidelines for both stocks and bonds. In other words, both sides of the market sold off today. Treasuries fared a bit better, and MBS fared better still (2.0 coupons only dropped an eighth of a point by 4pm). 10yr yields thought better of breaking too far above the 1.37% technical level and have been settling there in the after hours session. Next week remains anyone’s game with a range breakout being all but guaranteed. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 09:00 AM Modestly weaker overnight with selling…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.