Posted To: MBS Commentary
While yesterday didn’t mark any ground-breaking foray back into the stronger trading levels seen in mid-April, it did end up being the first time since then that we’ve seen 3 out of any 4 days end green. In other words, the last time bond markets rallied for at least 3 out of 4 days was April 14th-17th. This isn’t really a big deal in the grand scheme of things, and a mere month without such a move is no surprise when momentum has largely been against us. But it is “nice” at least. Also, at the risk of not being shy enough after being bitten, it’s hard not to view these sorts of changes in tone as promising developments in the struggle to bounce. In addition to the various promising anecdotes (3 out of 4 days in the green, or breaking moving averages, or positive momentum…(read more)
Via:: MBS Day Ahead: Bonds Run Out of Data and Events Just When Things are Getting Good
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