Posted To: MBS Commentary
Bond markets were weaker overnight and continued pushing toward the first of two important resistance levels (think "ceilings") during the domestic session. Before any of the day's drama set in, however, we managed to bounce before breaking that ceiling thanks to tradeflows that kicked in at the 9:30am NYSE open. 10yr yields came down from roughly 1.60 to 1.58 in the first half hour of NYSE trading and then held fairly flat for the next few hours. Then the drama showed up . Bloomberg ran a story about hedge funds pulling certain cash holdings from Deutsche Bank. Markets took this as some sort of "run on the bank." Stocks sold off and Treasury yields dropped accordingly. So was it a run on the bank? Not really. Keep in mind that DB's share price is already in the...(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/2cESOZr
No comments:
Post a Comment