MBS RECAP: Bonds Claw Back to ‘Unchanged’ After Weaker Start

By Matthew Graham

Posted To: MBS Commentary

Bonds were quite a bit weaker in the overnight session. According to the average media report, this was in response to Syria-related developments. The “logic” was that because the US had launched missiles into Syria WITHOUT sparking military escalation with Russia, that the whole Syria situation would just calm down from here. Again, you’re being asked to believe that the announcement of a US air strike in Syria implies deescalation of conflict in Syria. If you’re not quite on board with that, don’t worry, you’re not alone. I’m right there with you, and while I would admit that Syria-related headlines have had some effects over the past week, there are certainly other things on the minds of bond traders. Overnight, the focus was on Europe at the open (European…(read more)

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