Posted To: MBS Commentary
"Perfect storm" is an overused term, and there other, more colorful descriptors I'd use to describe the storm that's been battering bond markets for the past year and a half. This particular storm began with Brexit failing to bring about the collapse of the global monetary system and failing to serve as a catalyst for another downward cycle in the European economy. Granted, that wasn't the only thing markets were focused on, but it was a turning point for bonds and rates. It began a slow, steady move back toward higher rates after 10yr yields hit all time lows in June 2016. That slow, steady move could easily have continued had Hilary Clinton won the US presidential election. Traders would have been focused on the several of the same things that are currently pushing rates...(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/2ElYx0H
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