Posted To: MBS Commentary
In the context of this week’s range, today has been well-contained and fairly mild in terms of volatility. After hitting the best levels of the week yesterday morning following Retail Sales, yields began edging up in linear fashion and continued that trend through the overnight session. It would have continued unabated were it not for a shockingly bad Producer Price Index this morning. But even that proved to be only a temporary stumbling block for the determination to get back to the resistance levels in place from before Wednesday’s 10yr auction. This is something that bond markets do from time to time. After trading up against a technical level, an event or headline will cause the level to break and a combination of momentum and/or more data/events will keep things moving in the…(read more)
Via:: MBS MID-DAY: Bonds Bounce Back From AM Weakness; Slightly Stronger Now
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