Posted To: MBS Commentary
Last week provided some hope for bond markets due to a relatively strong move off the recent highs. 10yr yields recovered from the previous week's 1.80% closing level to 1.73% a week later. Granted, that's not a huge move, nor is it a great outright level relative to the past 4 months, but it was a step in the right direction . Unfortunately, such steps are often seen during longer-term uptrends. We would have liked to have seen a solid break below the 1.73% pivot point (a "pivot" because it recently acted as a firm "ceiling" and is now building a strong resume as "floor"). Even then, breaking below 1.73% would only be the first step in defeating the broader trend. Yields are also trading above the 25, 50, 100, and 200 day moving averages. Though these...(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/2f7fP90
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