Posted To: MBS Commentary
Halfway through the day and domestic bond markets are very close to levels not seen since May 8th. 10yr yields are challenging the important 2.14 inflection point and are already stretching the boundaries of the consolidation patterns discussed in this morning’s Day Ahead . Overnight trading was the first major positive, with German Bunds rallying aggressively out of the gate. Treasuries benefited from the Bund rally as well as the ongoing overnight movement in currencies where strong swings in the dollar are said to have brought in foreign interest in US debt. As the domestic session approached, the overnight rally was giving back some gains. Stronger internal components in the Durable Goods data didn’t help, but bonds never committed to weaker momentum. Keeping in line with the overnight…(read more)
Via:: MBS MID-DAY: Bonds Benefiting on Multiple Fronts
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