Posted To: MBS Commentary
Despite a fair amount of focus on last night's State of The Union speech in the news, it was a complete dud in terms of bond market movement. These speeches are usually duds, but this time around, bonds were on high alert for any threats, having made 2 successive 3yr+ intraday highs. The thinking was that a more robust announcement of the infrastructure spending plan alluded to last week, last month, and last year would put pressure on bond markets because of its implications for Treasury supply. There are several articles covering the infrastructure plan as it related to last night's speech. Here's one . A more important supply consideration arrives this morning in the form of the Treasury's quarterly refunding announcement. Markets expect 3/10/30yr auctions to come in at ...(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/2rVu4E7
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