Posted To: MBS Commentary
The first two days of this week were “nice.” They got us back in line with what had been the weakest levels of the year before last Friday. In other words, this week has only been good because Friday was so bad. Not only that, but things haven’t even gotten convincingly good for US bond markets yet this week. If anything, they’ve been conflicted , with some positive and negative signs in the charts. The inability to break short term pivot points suggests more than a little hesitation in getting right back into the rallying spirit. The unwillingness to keep pace with broader market movements is also something to watch: There is also hesitation in the longer term charts as 10’s now struggle to get back below the 100-day moving average that offered support during the 2nd…(read more)
Via:: MBS Day Ahead: One More Day Without Data; US Bonds Lagging; Technical Struggles
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