Posted To: MBS Commentary
For all of the apparent drama and volatility experienced during the past 2 weeks, it's easy to overlook just how narrow the range has been. There's no simpler way to say it than this: for the 8th straight day, 10yr yields closed between 2.375% and 2.42%. Today saw yields push the higher end of that range, with a 3pm close of 2.41 and intraday highs of 2.425. It's also fair to say that the bias inside the range has been negative--at least if we're looking at the past 3 days. During that time, we've seen a decided trend of "higher lows" in intraday yields as well as other " risk-on " indicators like stocks and Yen/$. In addition to that general "risk-on" trend, today's bond market weakness got a boost from a decent Q4 GDP report. This was...(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/2oEaPbT
No comments:
Post a Comment