MBS RECAP: Bond Correction Takes The Day Off

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Posted To: MBS Commentary

Bond traders took a break from their newfound hobby of the past 5 business days: relentlessly selling bonds . Maybe they want to branch out and try new things. Maybe they were just a little tired of all the selling. Or maybe they had hit their pre-ECB selling goals just a bit early. Tomorrow's European Central Bank (ECB) announcement is definitely worth considering as a potential flashpoint. With heavy expectations for significant stimulus and rate cut overtures on multiple occasions since the last meeting, the sudden ramp up in ECB-related doubts (i.e. will they cut as much as we thought? Will they announce any new bond buying) may indeed have the bond market on edge. To whatever extent that's the case, we'll know it tomorrow, and today's sideways grind would make even more…(read more)

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