MBS Day Ahead: Same Question, Different Day

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Posted To: MBS Commentary

Are rates in the process of confirming a top or are they simply in some sort of consolidation period before continuing higher to the scarier levels we've entertained from time to time this year (say, 3.25%, or something around that)? One might read something like this , and conclude " of course we're destined to move higher than 3%. I mean, look at all the stuff in play that points to higher rates this time around when compared to 2013/2014!!" But those who espouse that stance are increasingly forced to answer the question: "then why haven't we seen it yet?" In the other camp , those who are trying to make a case for bond yields having topped out for the year have an even tougher product to sell. A few of the things upon which they can hang their hats include…(read more)

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