MBS Day Ahead: Bonds Fight For The Old Ways


Posted To: MBS Commentary

In the post-apocalyptic hell (relative) that is the post-election bond market trading environment, there was a noble group of traders who attempted to stand strong against the tyranny of those who would deign to SELL Treasuries and MBS. Well, actually, selling bonds is a pretty natural part of the market, and they'd been so universally positive for so long that we can't be too upset about markets taking this great opportunity to reset the pieces, clear the runway, shuffle the deck, or what have you. Still, big sell-offs are no fun for those of us on the origination side of the mortgage market, so logic be damned. One of the only saving graces of the post-election bond rout was that a very nice, very linear trend of "lower highs" took shape in 10yr yields. This trendline was…(read more)

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