MBS Day Ahead: Defensive Technical Ceilings Await The Attack

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Posted To: MBS Commentary

Yellen rally set off positive technicals "Technicals" refers to mathematical interpretation of market movement based only on the previous market movement (i.e. ignoring data and external events) Today's data is a non-event, thus leaving focus on technicals Watch 1.85 and 1.88 in 10yr yields for defensive ceilings. They might be attacked, but if they hold, that's good. Yesterday's Yellen-induced bond market rally did some nice things for most of the mainstream technical analysis (drawing conclusions and making predictions about market movement based solely on the market movement itself, as opposed to external events). There are too many different technical studies for most anyone to want to digest on a regular basis when watching one of their most important securities,…(read more)

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