Posted To: MBS Commentary
10's have been bouncing at 1.71, secretly, overnight It's breaking this morning and the next battle is clearly implied by early February trading patterns Secret overnight resistance level! Intriguing, no? Just what the heck am I talking about? To whatever extent that can be conveyed in words, here goes: As you may know, US Treasuries continue to trade through much of the overnight trading hours as long as Tokyo and London are not out on holiday. These hours run from 6pm through 8am. They are usually not very useful in terms of analyzing for clues about how rates will move during domestic hours, but occasionally they hold clues. This might be one of those times. For more than a week now, 10yr yields have been rendezvousing with the same resistance level (a "floor," for lack...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1T6LK6a
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