Posted To: MBS Commentary
Nothing happened this afternoon to add any information or market momentum already in place this morning. The morning events were covered in greater detail HERE . The bottom line is that US bond markets followed European bond markets into stronger territory due to Eurozone systemic stability issues concerning Greece. It’s not the first time and it wasn’t entirely unexpected today, but nonetheless led German yields to new record lows (Germany’s bond market benefits from systemic instability in the EU). Gains continued into mid-morning. When European markets closed, that was it for the day. MBS and Treasuries reversed their gains, but didn’t move far before leveling off into a sideways grind for the rest of the afternoon. Apart from the European inspiration, it was a slow, quiet…(read more)
Via:: MBS RECAP: Still in Holiday Mode, Bond Markets Improve on European Drama
