Posted To: MBS Commentary
Ever have one of those days where it seems that the odds are hopelessly stacked against you? That’s the sort of week and a half that bond markets have been having. If it’s not European bond markets pushing Treasuries unavoidably higher, it’s reasonably strong domestic data like this morning’s ISM Services numbers. If it’s not the data, it’s a massive dose of corporate debt issuance like today’s $16.7 bln offering from Abbvie, which garnered more than $65bln in bids (showing how interested market participants are in getting away from Treasuries and other bonds if something else has a better yield). All that having been said, today wasn’t doomed from the start. A pause in European bond weakness afforded some hope earlier in the session. Treasuries actually made…(read more)
Via:: MBS MID-DAY: Sell-Off Continues Thanks to Europe, Data, Corporates, Everything Really…
Share this article
