Posted To: MBS Commentary
ADP data rescheduled for today ECB Press Conference on tap Not much else by way of data Slow trickle of gains makes for potential momentum shift But we'd need to make more gains after NFP tomorrow to confirm It's no mystery that we've been bouncing around the consolidative range seen in today's chart for most of 2016. Not only have we held inside that range, but the ebbs and flows have had a fairly linear cadence. The past 10 business days have broken from that pattern , however, with rates holding in a super narrow, super sideways range. When that sort of 'sideways' momentum follows a move higher in rates, it tends to make the technical studies signal a positive shift in momentum. All they know is that rates had been moving higher, so the more they refuse to move higher...(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/1sOGSre
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