Posted To: MBS Commentary
If only it were October! The costume contest at the annual bond trader Halloween bash would be easy to win with that "2.79%" costume in the back of my closet. OK, so I don't really have a 2.79% costume, but I can tell you that it terrifies bond traders. Actually, I don't need to tell you. It's pretty plain to see: In the chart, number 1 occurred yesterday afternoon. The tariff shock was fresh enough that traders simply scampered back above 2.80% and let things drift sideways into the close. The 2nd attempt to break 2.80 happened overnight when there wasn't enough domestic market participation to cause much of a sell-off. Plus, we had yet to see exactly how domestic market participants would play it. Number 3 (or just after it, to be precise) is when domestic traders...(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/2F7m35t
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