Posted To: MBS Commentary
Bonds are back on the ropes again to start the day as the Bank of England (BOE) surprised markets by holding rates steady. This was their way of flipping the bird (or is it "sit and spin" over there?) to global financial markets calling for the UK's relative demise in the wake of Brexit. Even before the BOE headline, bonds were slightly weaker overnight. I might not look at that as anything more than the next logical move after yesterday's repeated, failed attempts at getting any sort of real rally going. If you want to apply a bit more meaning and correlation, we can always look at the general "risk-on" movement overnight that saw improvements for stocks, higher bond yields abroad, strong Pound Sterling, and weaker Yen. All of the above is more than enough for the...(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/29S7YXT
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