Posted To: MBS Commentary
In day-over-day terms, the 1-2bps gain in 10yr yields and the 3-5 ticks improvement in MBS prices don't seem overly impressive. But if we consider that each of the past 3 days has seen 10yr yields close at the best levels of the month , it's a bit more interesting. Bonds haven't ended a month with yields this low since April. This wasn't necessarily a given from the outset today. While stocks and bonds don't necessarily HAVE TO follow each other, they've been sticking pretty close during the month. So there was some pressure from that "risk-on" trading stance (buy stocks, sell bonds) overnight. Treasury yields rose consistently through both the Asian and European sessions, getting little help from a slightly weaker reading on Eurozone inflation. It wasn't...(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/1YPg8mu
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