Posted To: MBS Commentary
Have you ever seen someone randomly do something fairly awful/hurtful/aggressive, offer no explanation or apology, and then just leave the scene? That was essentially what bond markets did today. Friday's already unpleasant weakness was forcibly extended , bringing yields to the highest levels in more than 4 years during the overnight session (a feat that was nearly repeated during domestic hours). There were no new developments in the bond market world to justify such a turn of events. Still, it shouldn't come as much of a surprise if you've been reading this commentary. After all, last week was all about the "defeat of the friendly Springtime consolidation in rates." That defeat paved the way for the bigger-picture, longer-term selling trend to get back underway. Bottom...(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 https://ift.tt/2Hp9mjt
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