Posted To: MBS Commentary
It ended up being interesting that the focus of yesterday’s Week Ahead was the absence of data leaving us with a less obstructed view of traders’ intentions. Reason being: traders did nothing. Ever since Friday afternoon, there has been zero high-conviction activity in bond markets. Last night’s closing chart showed that aimless drift juxtaposed with the epicenter of high-conviction trading in European bond markets. That’s OK though. We can forgive Treasuries/MBS for taking a day to compose themselves after Friday’s rout, especially if they were slightly stronger in the process. Yesterday could be chalked up to the bond market equivalent of a case of the Mondays . 2 days of this aimless drift would be disconcerting. What they do today then becomes that much more important…(read more)
Via:: MBS Day Ahead: Searching For Signs of Life in Paralyzed Bond Markets
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