Posted To: MBS Commentary
Nothing is happening. This was the theme of the Day Ahead, and nothing has changed. In fact, just hours after making fun of a Bloomberg article that mistakenly attributed recent Treasury weakness to oil price gains, I was pleased to see a somewhat redeeming article that does a better job of getting to the heart of the matter: Take Off Friday and Monday Because Most Bond Traders Already Do . Bonds gained some ground, largely because they lost ground yesterday. Trading lacks conviction in general and the swings have largely been occurring inside an established trend. Prodding one end of the trend prompts a move toward the other side, etc. The overnight session was uneventful, and just slightly stronger for bond markets. MBS opened roughly 4 ticks higher than yesterday’s closing levels, and…(read more)
Via:: MBS MID-DAY: Another Unofficial 3-Day Weekend in the Works
Share this article
