MBS Day Ahead: Too Soon For Hope?

Posted To: MBS Commentary

The title is a trick question --at least if you've read almost anything else I've written in the recent past. If today is your first time though, welcome! Here's what you missed: We're in an uptrend in bond yields until we're no longer in that uptrend. Yes, this sounds trite and perhaps meaningless, but it's actually an important concept when it comes to following bond markets for the purposes of advising clients on lock/float strategy. Understand beyond a shadow of a doubt that no one ever knows what will happen an hour, day, week, month from now in financial markets. Understand that if there were a way to know such things, someone else would take advantage of that inside information and it would no longer be of benefit to you. The future must be approached with generalities...(read more)

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