Posted To: MBS Commentary
While there has been a good amount of volatility in September, it was fairly flat, relative to August's latest levels. Up until this week, that wasn't necessarily destined to be the case. The week began with 10yr yields breaking back into the familiar 1.5-1.6 range. Tuesday-Thursday solidified and confirmed the move, with yields ending the day under 1.55 yesterday. In that context, today's weakness was somewhat disconcerting . After a calm, slightly stronger morning, selling pressure hit like a freight train beginning around the 9:30am NYSE open. Most media outlets chalked-up the abrupt selling to reports that Deutsche Bank's DOJ fine would be lowered to $5.4bln from $14bln previously. This indeed played a small role in today's market movement, but let me assure you it was...(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/2dCbdqL
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