Posted To: MBS Commentary
Nothing of note has transpired or conspired to move bond markets today. It’s another Monday without economic data, meaningful headlines, or strong participation among traders. As has been the case of late, that leaves tradeflows in control of our destiny. To that end, Treasuries bounced against technical resistance yet again this morning. The last major high in 10yr yields was 1.982 on April 13th. Until or unless yields break back above that level, bonds are simply stuck in an ultra narrow sideways grind .. One relative benefit of narrow Treasury trading ranges is that MBS tend to outperform. That looks like the case today in terms of ‘day-over-day’ change, but more telling is the fact that both MBS and Treasuries are just inside Friday’s weakest levels. Perhaps we’ll see…(read more)
Via:: MBS MID-DAY: Bond Markets Generally Weaker, But Still Inside Friday’s Range
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