Posted To: MBS Commentary
While there is some variation depending on the part of the country and the school district, this week is Spring Break for quite a few people, and if today is any indication, many of them are bond traders . Volumes and volatility were both light, but the range was notable in that we held our ground in the face of some negative cues. In particular, German Bunds and stocks both suggested bond market weakness in the morning hours, but Treasuries and MBS didn’t seem to care too much. A noncommittal head-fake toward weaker levels soon gave way to calm ground-holding for the rest of the session. The bigger-picture is noncommittal as well, but in a less positive way. This can be easily seen on the 5-day charts on MBS Live . Notice how both MBS and Treasuries have merely coasted back down (or up…(read more)
Via:: MBS RECAP: Eerily Steady and Refreshingly Resilient, but Still no Conviction
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