Posted To: MBS Commentary
GDP is already out this morning and it it's left bonds in slightly stronger territory. With these gains, the longer-term chart looks like 10s might be trying to form a new ceiling right in line with the last major ceiling from early June. Momentum technicals wouldn't be too opposed to the idea as short-term stochastics have already leveled off in oversold territory and longer-term stochastics are getting close. This refers to the red/blue and green/teal lines in the chart above, respectively. The higher they go, the more they're considered to be "oversold"--an intentionally vague term that market technicians use to refer to a security that has seen so much selling over a certain amount of time, that it's increasingly likely to see a bounce in the other direction. The...(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 https://ift.tt/2K0PUKq
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