Posted To: MBS Commentary
Bond markets sent a fairly clear message today: don't expect much tomorrow. Trading activity is dying down in the same sort of way it did last Thursday. In both cases, Tuesday and Wednesday saw big moves (exacerbated by illiquidity. In both cases, Thursday was markedly different and in both cases, there was a half-day on Friday and a full closure on the following Monday. There's one other similarity. In both cases, Thursday saw bonds move in the opposite direction when compared to the bigger move from the two preceding days. Since this week's big move was in a friendly direction, that means bonds were slightly weaker today. Economic data and events had nothing to do with the weakness. It was just the byproduct of the illiquid rally on Tuesday and especially Wednesday. We're...(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/2pQPcKJ
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