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MBS RECAP: Bonds Confirming Momentum Change

Posted To: MBS Commentary

Bonds were being weaker overnight, weaker in the course of the AM several hours, and just for great evaluate, weaker all over again in the afternoon. When the dust cleared, 10yr yields had risen just about 9bps and Fannie three. MBS were being down additional than a quarter point (Fannie two.5 discount codes additional than 50 % a point). Surely, there should be a thing significant and noticeable to generate this kind of a transfer! Was it some form of trade war tweet, a significant central bank speech, or an significant piece of econ info? The three distinct stages to the providing would be our first clue that we were being NOT dealing with a person of all those huge, singular, practical, sensible current market movers. If we could only blame a person issue for nowadays&#039s suffering, it would have to be “technicals.” That&#039s declaring a thing (for me, in any case) simply because I drastically be reluctant to pin significant current market moves on technicals…(go through additional)

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