Posted To: MBS Commentary
Nothing has materially changed from the Mid-Day recap, so for the nuts and bolts of today’s rally, that would be the best place to get caught up: MBS MID-DAY: Everyone Loves Bonds! Except Greek Bonds! You’ll notice that both titles contain some form of “love,” and that’s really the best way to characterize the market’s infatuation with and lust for strong sovereign debt. Guaranteed tradeflows into German Bunds (and the rest of the Eurozone) are a big help, but more than that, the absence of inflation and ongoing global growth concerns are increasingly unmanageable problems. And bonds are one of the only ways to deal with such problems. Eurozone inflation came in at -0.6% this morning. German Retail Sales missed estimates (.2 vs .4 forecast). US GDP came in lower than…(read more)
Via:: MBS RECAP: Bond Markets Loving Month End, and Life in General
