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MBS RECAP: Not a Massive Sell-Off, But Certainly Not a Massive Rally

Posted To: MBS Commentary

Right now is most very easily talked about primarily based on what it wasn&#039t. Right now wasn&#039t a major offering day. That&#039s nice to see– specially in 2018, and specially with mid-day weak spot hard new ceilings in 10yr yields just about 2.eighty three%. But maybe far more significantly, these days wasn&#039t a major rally day. In actuality, bonds experienced each and every chance for an exploratory press into the ideal new levels, but they ended up shying away time and once again. This shyness performed out in the right away session, in the early morning several hours, and once again in the afternoon when headlines relating to a Mueller Subpoena of Trump corporation users ostensibly supplied a inexperienced gentle for the “risk-off” go. Stock, for instance, stuck to the risk-off guns by slipping to the day&#039s cheapest levels right after the Mueller headlines. Bonds…(read far more)

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