MBS Day Ahead: Technically Under Attack, But is There Hidden Hope?

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Posted To: MBS Commentary

Much of the analysis of the past few days has focused on the downwardly sloped trend channel seen in today's first chart. This can be thought of as the "correction trend" that helped bonds settle down after a glut of selling pressure to kick off the new year. From a technical standpoint , that trend has been under attack for the past 3 days. In the strictest sense, it's actually been broken. That said, the technical breakout has been taking the form of a "trickle" so far this week. That begs the question: is there some secret reason to be hopeful about bonds' prospects in the near-term future? Is there some way that rates could get back on track with a moderate rally? Well, anything is technically possible when it comes to the future of rates. There's no…(read more)

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