Posted To: MBS Commentary
Today ended up being exceptionally quiet for bond markets in the bigger picture, although that wasn't clearly going to be the case earlier this morning. By 8:50am, yields were at their lowest levels in more than a week as investors were relieved to not get a more hawkish message from the Bank of England in today's policy comments. British bonds ("Gilts")clearly led the overnight momentum and helped Treasuries get where they were going. As soon as Gilts were done rallying, the US bond rally was out of steam. Incidentally, 10yr yields hit the brakes precisely in line with Tuesday's lows, adding to the sense of technical resistance at 2.43% . As European markets closed, US bond markets were left with an even bigger imbalance of sellers. A big corporate deal from Apple added...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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