MBS RECAP: Bond Traders Have Had Enough

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Posted To: MBS Commentary

Bond traders are increasingly saying "enough already! " when it comes to reacting to every little push and pull in the tug-o-war over the tax bill. After headlines suggested Rubio may be pulling his "yes" vote yesterday, today's news was different. Concessions were made and the GOP once again had enough votes to move forward. Stocks and bonds moved lower together with yesterday's Rubio headlines and higher with today's. Granted, this was a much bigger deal for stocks, but bonds were taking part nonetheless. That is, until this afternoon when bonds decided enough was enough and proceeded to rally back toward 'unchanged.' Was it really as simple as bond traders getting fed up with all the political horse-trading? No, not even remotely. Bond traders have…(read more)

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