Posted To: MBS Commentary
This isn’t the most enjoyable way to begin the new week, but it was one of the options suggested by recent trends. Specifically, this option was the one where last Thursday and Friday marked a mere correction in a more determined trend toward higher rates (as opposed to the first two days of a friendly bounce toward lower rates). US traders were clearly lined up to sell bonds at the domestic open and were already in weaker territory from overnight trading. The determination behind the selling is quite high considering the lack of overt causes. Indeed, if there were no causes, the losses would be exceptionally troubling. But there are causes. They’re just not as satisfying as we’d like them to be in terms of causality. Additionally, they are the same two causes that have been behind…(read more)
Via:: MBS MID-DAY: Global Sell-Off Continues for Bond Markets
Share this article
