Posted To: MBS Commentary
This week continues to be all about Tuesday for bond markets. That was the day with the rather violent, inexplicable sell-off that took yields from 2.25 to 2.34 approximately. Even with econ data, a Treasury auction and the Fed announcement yesterday, yields remained well inside Tuesday's range. Today was narrower still--especially during domestic hours where 10yr yields held between 2.3 and 2.33% as opposed to yesterday's 2.28-2.34% domestic session range. These "inside days," as they're called, speak either to a lack of conviction or simply to a consolidation. Either way, we're waiting for a break outside Tuesday's levels before drawing any conclusions. Arguments can be made for both camps, but caution is warranted considering the big surges in volume have accompanied...(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/2w4GuH6
No comments:
Post a Comment