Posted To: MBS Commentary
The Fed announcement is in the rearview and bond markets are beginning their 3rd straight day of improvement. Does this mean last week's sharper move higher in rate was a false alarm? We have to be careful about jumping to conclusions when it comes to false alarms. Specifically, last week's move toward higher rates provided a definitive break of 2 months worth of consolidation in bond markets. Yields remain above the pivot points and trendlines implied by those 2 months and we can't get too optimistic about a triumphant bounce back until those levels are broken (don't worry, I'm about to show you exactly where they are). To best understand what I'm talking about, we can simply look at the next most recent instance of a consolidative ("triangular") trend in...(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/2cNWedw
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