Posted To: MBS Commentary
If this happens to be your very first time reading this site, you should know that we’ve been talking a lot about a few things. First is the fact that bond markets have been almost perfectly sideways for most of April and in general, have been lacking in conviction to challenge either side of their trading range. Secondly , we recently began discussing the fact that markets seem predisposed to discount negative data at the moment, and instead seem like they’re looking for any positivity in order to justify some latent urge to back yields up ahead of the upcoming FOMC meeting the week after next. The final recently recurring topic is the incredible long and short term relevance of an inflection point from 1.84-1.86 in 10yr yields. (Incidentally, if it really is your first time reading…(read more)
Via:: MBS MID-DAY: Surprise Surprise! Bonds Nearly Unchanged After Morning Volatility
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