Posted To: MBS Commentary
The last trading day of any given month is more volatile and more actively traded than the average trading day. That wasn't the case today, which is somewhat of a surprise given that the previous trading session saw the highest yields in 5 months amid very high volume. With that set-up, today was more likely to go big in either direction, at least from a strictly technical perspective (i.e. if we ignore all of the fundamental events in play). But wouldn't you know it! There are a ton of fundamental events in play, and by the time we consider them, we can probably forgive the bond market for being indecisive here! These include things like the impending Fed Announcement on Wednesday, the election uncertainty created by last Friday's 'email investigation reopening,' and certainly...(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/2fon90b
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