Posted To: MBS Commentary
If bond markets are going to make something happen with their recent attempts to establish support at the weakest levels of 2015, it would be nice if they’d do that sooner than later. If they don’t, we’ll be facing down some major, long-term technical levels very soon. Realistically, we’ve already begun prodding them. While we haven’t broken through yet, at these levels, we’re only ever one bad day away . The levels alluded to are represented by 2.35 in the chart below, but historically, the technical activity around that line has happened anywhere from 2.33 and 2.38. Let’s continue talking about the long term–not because it should affect anyone’s lock float strategy, but simply because it’s a hot topic. Naturally, everyone wants to know if rates will keep…(read more)
Via:: MBS Day Ahead: Big Picture, Long Term Considerations
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