Posted To: MBS Commentary
While there are several economic reports that have market-moving power today, the bigger issue for bond markets may be the technical battle that's been fought at 10yr yields of 2.42% all week. This has been a very central pivot point for the 2017 range, and yields have broken or bounced there on 8 of the last 9 days. Sidenote: the word "broken" in the previous sentence does indeed refer to yields moving above 2.42%. Why, then, are we talking about it as a ceiling still? Because when it comes to technical analysis of "breakouts," the break of the line itself is only the first development. Breakouts require "confirmation." Confirmation can be defined in a couple ways depending on the approach of the technician, but the most prevalent definition is "closing...(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/2nmQExP
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