Posted To: MBS Commentary
Bond markets are beginning the week in a defensive stance after insurance analysts report expected Irma-related losses to be lower than originally forecast. Adding to the weakness is separate news that South Korea is supporting a full gamut of sanctions in the UN draft resolution against North Korea, including an oil embargo. This is the sort of tough love seen as most likely to defuse North Korean tensions, relative to other options. Bond weakness can also point to the future . There is a round of Treasury auctions to begin the week with 3, 10, and 30yr tenors on Mon-Wed respectively. At current levels, these will be the lowest-yielding auctions in nearly a year, thus potentially presenting a challenge for markets when it comes to garnering a meaningful bid. For now, the weakness is doing...(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/2wkg3wY
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