Posted To: MBS Commentary
Bond markets seemingly rallied rather impressively yesterday. In other words, the magnitude of the gains and levels achieved would have been impressive if they’d happened in a vacuum where bond market trading was the only game in town. As it stands, there were other games in town, and they happened to be rather intense. These include: one of the weakest days of the year for stocks, with the S&P dropping more than 30 points new 6-year lows in oil new all-time lows in German (aka “Eurozone”) bond yields new all-time low in Japanese bond yields The list could likely be expanded with other trivia, but the point is made. It wasn’t just another day for global financial markets. It hasn’t been just another week, month, or year either. We may be witnessing an overly-insulated…(read more)
Via:: MBS Day Ahead: First Significant Data of the Week; Last Treasury Auction; Hungry Rally
