MBS Day Ahead: Bonds Face Minefield of Resistance From Here


Posted To: MBS Commentary

The first month and a half of 2018 was fairly brutal for bond markets. Metaphorically speaking, it was like retreating from their home across a field of landmines getting blown to bits repeatedly along the way. Finally, in mid-February, fortune began to smile on bonds again. Well, at least it began to frown less. Mid-February saw 2018's relentless uptrend start to level-off. In fact, it almost looked like bonds might try to rally at the beginning of March, but as soon as 10yr yields broke below 2.80, boom! There are those pesky landmines again. In fact, there are several levels between 2.80 and 2.85 that have offered bumps and bounces over the past few weeks as 10yr yields have tried to inch back toward their former castle (let's call it 2.66% or lower), not to mention the great big…(read more)

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