Posted To: MBS Commentary
After yesterday saw yields break above the previous ceiling in 10yr yields (2.66-2.67) with gusto, anything other than an equally decisive movement back in the other direction would only reinforce the ongoing selling-spree. Chances are, if you're reading this, you're already aware that we got no such bounce. While today's trading didn ' t result in a major move to new intraday high yields, bonds nonetheless closed at their highest levels since early 2014 (again). In a real sense, momentum is its own reason for existence at this point. We often talk about "snowball" moves both higher and lower in rate, where selling begets more selling for a variety of reasons and vice versa. That's certainly part of the current weakness. In terms of specific events, there's...(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/2nmm0ro
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