Posted To: MBS Commentary
When things have been unexpectedly as good as they have been for as long as they have been, one of the side-effects can be increased anxiety about the good times going away. As the bond rally stretched to even stronger levels at the end of last week, it was hard not to ask, yet again, "ok, so was that finally it?" Before we get to addressing one interesting response to that question, let's be clear about a few things. First of all, there are nice pockets of bond market gains, and then there is the bigger picture. The bigger picture is one, immense, ongoing, decades-long rally that has yet to even threaten a reversal. If we add in what we know about the fundamental outlook going forward, it's hard to imagine organic justification for higher rates . In other words, the Fed tightening...(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/1PS4w05
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