Posted To: MBS Commentary
Bonds began the day in weaker territory, threatening to confirm a 2 day move that ends March's impressive run. Weakness remained intact all day but began to fade after 10:30am when the brexit vote failure headlines came out. Brexit continues to be an ancillary source of uncertainty for the global financial market. It's not going to change any big picture trends at this stage, and if it ever does, a case could only be made for such a thing by a lengthy research paper years and years after the fact. As for the day's non-brexit-related considerations, the economic data wasn't a big market mover and volatility was quite well contained considering the combination of a big monthly move and the fact that today was month/quarter end . This absence of volatility is both good and bad...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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