MBS Day Ahead: Bond Bulls Hope For November Truce

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Posted To: MBS Commentary

As can be seen in this morning's chart (and remembered in the hearts and minds of loan originators who closely follow market movements), October has been our least favorite months of the year. September wasn't much better. In fact, we've technically been in an uptrend since hitting all-time lows at the beginning of July. So maybe we could catch a break in November? We might even be seeing early hints of that change in course. We've already talked about how bonds have gravitated back toward the important inflection point (currently passing through 1.73%, as seen in the chart below), and we've touched on a few of the momentum indicators. With overnight gains and yesterday's decent performance, short term momentum (via Fast Stochastics ) is now decidedly positive. With…(read more)

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