Posted To: MBS Commentary
After yesterday's strong performance it would have been nice to at least hold those gains. If that had happened, the bigger picture would look decidedly better in terms of chart patterns. As it stands, the big picture still doesn't look "bad," but today's weakness leaves the probability of negative outcomes on a relatively level playing field with positive outcomes. In other words, things were looking good for bonds until this week, and now they look more neutral. Reinforcing that neutrality is the relative lack of week-over-week movement. 10yr yields closed out just over 1.76 today versus just under 1.75 last week. If it helps put the day's events in context, yields were at 1.75 just before this morning's data. Despite most of the weakness being in place from...(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/1XQpbln
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