MBS Day Ahead: Strong Opening Argument in The Case For a Bounce

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Posted To: MBS Commentary

It's going to be a chart-focused commentary today, because frankly, there's not much to say with words. The bottom line is that this morning's economic data has potentially initiated the bounce that we've been waiting and hoping for. As with any single day of rally momentum in bond markets, we'd really need to see another day or two of similar behavior to confirm the bounce. Moreover, things could still change by the end of the day, but to be sure, we're off to a good start. Based on the chart above, today's potential bounce is just another potential shift in the series of normal ebbs and flows typically seen by bond markets. In the bigger picture, however, it comes at a more interesting time . We've made many comparisons between the late 2016 bond sell-off and…(read more)

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