Posted To: MBS Commentary
For the end of any given day, bond markets closed at their best levels since April. If we look at only month-end closing levels, today was the best close in a year . The amount of ground covered from start to finish was also the biggest in a year, fully engulfing the previous 3 months of weakness. We'll talk more about what that might indicate from a technical perspective next week, but suffice it to say, we're going out (of January) on a higher note (or low note, if we're talking about rates). What's up with all this? Nothing to do with GDP data, or Chicago PMI, for that matter. Data, in general, continues to take a back seat to the bigger-picture market considerations (and that's saying something, considering data should be one of the biggest considerations for markets...(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/20yypV3
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