Posted To: MBS Commentary
There continues to be nothing too much to write home about when it comes to post-NFP October in bond markets. There has been a range of 2.0-2.08 that has remained mostly intact since then--especially in the second half of the month. After testing the higher end of the range at the end of last week, rates moved quickly to the other end of the range this week, but that's about it. We wouldn't necessarily expect a massive break of this range before the Fed, but overnight movements in oil and European bond markets might have suggested it under different circumstances. In other words, if it wasn't Fed day tomorrow, and if the Fed still didn't stand any chance of alluding to a December hike, our performance might be a bit stronger here. That said, if it wasn't Fed day tomorrow...(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/1M0pAha
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