Tuesday , 23 October 2018

MBS RECAP: 4 Days After Bonds Went Crazy, Stocks Took a Turn

By Matthew Graham

Posted To: MBS Commentary

Remember last Wednesday? Rather forget it? Yeah, me too. That was the day that bond yields spiked last week. The size and speed of the move was out of line with any of the common explanations. These things happen, of course, and when they do, it’s best to focus on what’s true and to admit that no one should even be able to know why everyone is making every trade in any given market. Yet that’s exactly what tends to happen when volatility strikes the stock market. Today was the stock market’s turn to have its explanation-defying selling spree, and it made last week’s bond move look a bit tame by comparison. The financial media–respected or otherwise–had a field day with it. But it wasn’t the kind of field day that was fun and exciting. Rather, it was hard to watch …(read more)

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