Posted To: MBS Commentary
Bonds began the day in modestly stronger territory and seemed content to hand onto those gains indefinitely. Up until the last 90 minutes of trading, the only interesting development was a quick technical move int he yield curve around 10:45am ET. Even then, there wasn't a meaningful reaction in 10yr yields (noticeable, but not meaningful), which remained uncomfortably close to their 2.95% pivot point. Incidentally, I recorded today's MBS Huddle video only a few minutes before the afternoon's big news . In it, I cautioned that even with the 2nd day of modest gains (at the time), that it was still too soon to rule out the new, negative momentum. Additionally, the underlying thesis was that bonds looked like they were hunkering down to wait for whatever the next input would happen...(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/2Lp7X2n
No comments:
Post a Comment