Posted To: MBS Commentary
After a bit of an indecisive start that saw bond markets pull back toward 'unchanged' this morning, stocks stole the show and dragged everyone lower. Treasury yields hit 5pm at 2.098 --their best levels since the late August China-inspired rally. Fannie 3.5s and 3.0s can't make the same claim, but they're both close to their highest levels over the same time frame. This morning's data fell on deaf ears, despite being slightly stronger than expected. Instead, oil prices and equities markets were in control. Shortly after the 9:30am NYSE open, bonds began following stocks lower. Bonds' ability to rally was made all the more impressive by the headwinds that might have otherwise sent them in the other direction. These include corporate issuance and several Fed speakers who...(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/1P2m7jq
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