Posted To: MBS Commentary
Treasury yields and equities began the overnight session moving higher after stronger manufacturing data in China. Treasuries managed to hold their ground while stocks continued higher. The onset of the European trading session helped bonds even more. There has been an impressively sharp rally in European bond markets and a nearly as impressive selling spree in European equities markets. Economic data didn't provide much by way of inspiration for bonds. That's especially true of the 830am Jobless Claims data, which was completely passed-over. The 10am ISM Manufacturing data was a slightly different story, but not because the results suggested something new about the nature of the economy. Instead, this looks like market participants were making sure they were in position to capitalize...(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/1Glj52s
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