Tuesday , 13 November 2018

MBS RECAP: Super Sideways and Slightly Weaker

By Matthew Graham

Posted To: MBS Commentary

Bonds were stuck between a rock and a hard place today. Actually they were stuck between stocks and a European place. Stocks made a case for a bond rally (not that stocks are in total control of bonds, but all other things being equal, stocks’ intraday momentum is frequently seen accompanying bond rallies). European markets pushed in the other direction with German Bund yields rising 3 times as fast as US 10yr yields. The net effect was moderate weakness, mostly early in the day. That stands to reason as Europe is closed during the 2nd half of our domestic trading day (therefore not around to keep adding is influence). In the bigger picture, the weakness wasn’t a big deal. We’re effectively sideways at 7-year highs in rates. That’s been the case for most of the month. Stocks…(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: Super Sideways and Slightly Weaker

      

Comments

About Mortgage News Daily

Mortgage News Daily

Check Also

MBS RECAP: Super Sideways and Slightly Weaker

By Jann Swanson Posted To: MND NewsWire It may be that California, where home prices …