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MBS RECAP: An additional Sturdy Auction Can help Bonds Soon after China Information Debunked

Posted To: MBS Commentary

Yesterday early morning&#039s news concerning China perhaps purchasing much less (or selling) US Treasuries has been a significant chatting place. When most pundits and even a couple of traders jumped on the bandwagon proper off the bat, we immediately flagged it as a Pink Herring . By the conclude of business yesterday, there had been a couple of excellent news stories that also commenced to push back on the suspicious assertion. But the very best push back came from China alone, with the State Administration of Overseas Exchange heading on the file stating that the news both quoted the incorrect sources or was entirely pretend . Adequate of the current market was conned into selling bonds primarily based on yesterday&#039s pretend news that right now&#039s actual news supplied a little bit of a rally chance overnight. The bigger go strike bonds in a detrimental way just immediately after the European…(examine more)

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