Posted To: MBS Commentary
I will have to be careful with how emphatically I convey today’s volatility to friends and family. Anyone who doesn’t follow markets as closely would only be seeing essentially unchanged MBS and Treasury levels day-over-day. They would be well within their right to wonder what the big deal is/was if it resulted in such insignificant changes. First of all, that changes in trading levels from today’s news are much larger than today’s screens show, and they’ve been happening for weeks! Bond markets love to price-in future news if they have a pretty good idea that something will happen. In the current case, there was enough belief that some sort of stop-gap would be reached regarding an extension of Greece’s bailout agreement to begin pricing in the possibility. While we’ll…(read more)
Via:: MBS RECAP: A Mere 1 Tick Change Today… Sure Didn’t Feel Like It!
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