Friday, March 29, 2024 | The Latest Buzz for the Appraisal Industry

MBS RECAP: Trade Progress Helps Stocks, Hurts Bonds

By Matthew Graham

Posted To: MBS Commentary

It was a straightforward trading day today. Overnight weakness came courtesy of stronger econ data in Germany and the resulting sell-off in European bonds. The rest of the weakness was a product of a ” risk-on ” move stemming from updates on US/Mexico trade relations . As with any risk-on move, stocks rallied at the expense of bonds . To bond market optimists, the weakness wasn’t too terrible considering the fairly strong surge toward new all-time highs in stocks. More cautious players may note that the bounce coincides with technical cues (overbought stochastics, as seen in the Day Ahead , as well as the recent range floor at 2.80-2.82% in 10yr yields) and the risk of more trade progress with Canada. 10yr yields ended the day up 3.25bps from Friday’s latest levels, but up…(read more)

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Via:: MBS RECAP: Trade Progress Helps Stocks, Hurts Bonds

      

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