Posted To: MBS Commentary
April 9th. That’s the last time bond markets haven’t rallied on a Thursday. While some of the older examples in this trend are close calls, the last three Thursdays have been unequivocally positive, and today is no exception (so far). Treasuries began the overnight session holding perfectly flat during Asian hours. When European trading picked up, Treasuries outperformed from the start. During the weakest overnight momentum, German Bunds rose more than 7bps while Treasuries only rose 3.5bps. The only mildly disconcerting moments followed Jobless Claims data. After starting the domestic session in positive territory, both MBS and Treasuries bounced back to unchanged levels after claims data. They bounced hard (relatively speaking) and got help at 10am from weaker Philly Fed and Existing…(read more)
Via:: MBS MID-DAY: New Definition for ATR: Another Thursday Rally
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