Thursday, March 28, 2024 | The Latest Buzz for the Appraisal Industry

MBS RECAP: Medium-Sized Dent in Yesterday’s Weakness After FOMC Minutes

By Matthew Graham

Posted To: MBS Commentary

It was a nice, simple day as far as market watching was concerned. The overnight session was straightforward, with initial weakness driven by Eurozone headlines and data followed by some opportunistic buying after 10yr yields made it all the way up to 2.164. Bond markets hadn’t seen “real money” buyers for what seems like an eternity (yesterday was driven by “fast money,” leveraged snowball selling), so those traders betting against bonds were spooked by the show of support and quickly moved to book the profits. When folks who sold bonds short book profits, they do so by becoming buyers. Pretty simple. The buying quickly carried 10yr yields back to 2.112. That level held up as a technical barrier until the FOMC Minutes. The market reaction to that was covered in pretty…(read more)

Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Via:: MBS RECAP: Medium-Sized Dent in Yesterday’s Weakness After FOMC Minutes

      

Brent Bowen

Loosening The Knot

Something that I like to do is to research the etymology of various words. This is essential in understanding older/historical texts, so that you can

Read More »

TOP RATED PRODUCTS

5/5