Posted To: MBS Commentary
Yesterday was boring and uneventful. Bonds seemed to be trying everything in their power to remain range-bound and avoid breaking out of the consolidation pattern we'd been tracking. By contrast, today's bond market is unrecognizable --seemingly determined to break forcefully outside the consolidation pattern. There were significant gains overnight. As noted in this morning's first update on MBS Live, these arrived hand-in-hand with heavy selling in stocks. The goal/challenge from here will be to convincingly break below the pivot point that we've been eyeing ever since we broke above coming in the other direction. 3.13% in 10yr yields is the line in the sand standing between us and more livable yields. Note: the chart above was snapped a few minutes before the last leg of 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/2EGd771
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