Sunday, December 10, 2023 | The Latest Buzz for the Appraisal Industry

MBS RECAP: Europe Reinvigorates Risk-Off Rally for Bond Markets

By Matthew Graham

Posted To: MBS Commentary

European stocks tanked today. The move was underway within minutes of the morning’s payrolls data which initially looked like it might give domestic stocks a boost and hurt bond markets. But domestic markets quickly acquiesced to the much larger move. For context, the Euronext was down over 2% while the S&P was down roughly 1%. Not only that, but the day’s momentum obviously coincided with European stocks, and obviously ended when they closed. Everything after that was simply an inconsequential drift into the domestic close. MBS did a good enough job of keeping pace with the broader move to get rate sheets back in line with Wednesday’s, and that’s about it. Notable events apart from the decent payrolls print included: – The French hostage situation which coincided with the…(read more)

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