Posted To: MBS Commentary
Bond markets were stronger right out of the gate in the overnight session with 10yr yields opening at 2.337 and gaining another bp since then. The relatively small difference between opening and current levels is our first clue that there are no major market movers behind the rally. There are no relevant economic reports or bond-friendly headlines. Rather, this is simply one of the possibilities every year on the week after thanksgiving. When Wednesday's (and sometimes Friday's) trading sees a sharp move in either direction, the post-Thanksgiving Monday has at least a 50/50 shot at erasing the pre-Thanksgiving move. So far, that's all this is. Whether or not bonds can build on the moderately strong momentum remains to be seen. Again, the strength has more to do with 'unwinding'...(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/2fsER1T
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