Posted To: MBS Commentary
Last week helped the month of May recover a few shreds of its dignity. As hard as it is to believe, it was the first week in 2015 where each day’s closing levels were the same or better than the previous close. Granted, it was only four days long due to the Memorial Day holiday, but still… that’s impressive, right? Actually, it’s not that impressive. Tuesday saw 10yr yields close at 2.135. Wednesday closed at exactly the same levels, and Thursday wasn’t much better at 2.130. It wasn’t until Friday’s ‘month-end’ session where bonds finally got a meaningful boost. Bottom line , it wasn’t a market that was stampeding toward stronger levels with vim and vigor. It was a market that was tentatively probing the edge of its recent trading range like a remorseful…(read more)
Via:: MBS Day Ahead: Action-Packed Week of Economic Data and Events
