Posted To: MBS Commentary
Stock rally hurts bonds Even before that, corporate issuance added pressure New March trading position-taking (and ultimately, profit-taking and stop-losses) also contributed to the snowball ISM data was a focal point for the volatility. The S&P gained more than 40 points today. In a world where we've often observed that bond markets can continue to experience happy days as long as stocks are in distress, that tells us much of what we need to know. But there's certainly more to the story. It is interesting to note that bond markets led today's charge toward higher yields (and higher stock/oil prices). Both US and European yields surged mercilessly following the 10am economic data. As I discussed in one of today's several reprice alerts on MBS Live, the ISM Manufacturing...(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/1QqLzjJ
No comments:
Post a Comment