MBS Day Ahead: Buyers Still Alive, But Still Waiting to Charge


Posted To: MBS Commentary

Yesterday's recap is a good read if you didn't happen to catch it. Here's a link. In general, there are 2 things going on with rates right now. 1. confirmed uptrend beginning in mid-December and still intact 2. lurking buyers potentially getting closer to buying after a break to the highest levels in more than a year. Actually these 2 things are always going on with rates if we reduce them to their categories. If we did so, they would read: 1. currently confirmed trend (aka "what's actually happening") 2. potential changes to that trend (aka "what might happen") As has been the case in recent days, bond markets are trading for reasons that transcend most any economic data or news headline. The exception would be news headlines for traders focused on corporate…(read more)

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