Tuesday , 26 January 2021

MBS Day Ahead: Big Discussion About Big-Picture Bond Market Trends

By Matthew Graham

Posted To: MBS Commentary

Yesterday’s rally was a potential game changer for the “great push back” of 2017 . That’s not the official term for the past several months of general positivity in bond markets, but the underlying phenomenon is as official as it gets. Simply put, this was an underdog year for rates . Over the 2016 winter holiday season, the families of market participants are blessed (and sometimes lulled to sleep) by egg-nog-fueled pontification on the real fate of rates in the coming year. Back then, more of us were entertaining the possibility that we really were in the midst of the great shift toward higher yields after more than 3 decades spent rallying back from the high yields of the early 80’s. If you’ve heard me talk about this before, you know that I don’t think there’s…(read more)

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