Posted To: MBS Commentary
After seeing today's trading--especially when we consider it in the context of recent technical levels and yesterday's bounce around 2.25% in 10yr yields--it seems increasingly clear that bonds are doing that thing they sometimes do as the weekend is approaching. Namely, they've entered a narrow, sideways range, and they look none too interested in breaking higher or lower unless given a compelling reason. In the current case, the range is roughly 2.25-2.27 . We spent a few moments trading just slightly lower today, but those were the exceptions to the rule during domestic hours. The morning economic data was irrelevant (no one cares about Jobless Claims any more), and the afternoon's Treasury auction was taken in stride (slightly less than "strong" in terms of the...(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/2r2hNvQ
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