Posted To: MBS Commentary
Surprise! It's another mega-rally day. Depending on your yardstick, this is the 5th or 6th mega rally so far this year. Considering there have only been 21 business days, that's a pretty good batting average. To be fair, today's was actually the biggest day-over-day gain, and it takes us to the strongest levels since April 2015. But wait, there's more. Today's rally wasn't nearly so beholden to stocks and oil as other mega-rallies have been. Bond markets moved into stronger territory of their own volition. It's not that stocks and oil didn't corroborate the move--just that bonds were already well on their way, and they vastly outperformed the amount of gains that the stock/oil weakness would typically suggest. This chart appeared in a mid-day update on MBS Live...(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/1QaIdwX
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