Posted To: MBS Commentary
"Consolidation" would mean yesterday's high yields were a short-term ceiling "Correction" would mean more pain for bond markets Yellen speaks at congress... today's only key event Will she strike a similar tone to last week's press conference? Bond markets are on high alert after jumping appreciably higher in yield to begin the week yesterday. In market jargon, yields "gapped out." These sorts of gaps are generally regarded as significant from a market-watching standpoint. The general thought is that the gaps will be tough to move through in the future. Conversely, if yields do manage to move through the gap, that movement would carry extra significance. In other words, it would be a good sign if 10yr yields could get back below 1.62. But for now, let's...(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/28KsQxA
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