Posted To: MBS Commentary
Global financial markets moved away from risk to start the holiday-shortened week as more North Korean missile drama made the news over the weekend. This time, South Korea warned of another ballistic missile test in the coming days/weeks, prompting tough talk from US officials. Stocks and bond yields responded by moving lower at the start of the overnight trading session. This leaves bonds very much within the boundaries of their ongoing rally trend. That trend has now been intact for nearly 2 months. Short-term momentum indicators have been unreliable in predicting a bounce and long-term indicators haven't yet confirmed that a bounce is likely. Still, when both indicators are in 'overbought' territory, it speaks to a recent imbalance between buyers and sellers. Such imbalances...(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/2wDFpYn
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