MBS RECAP: Bonds Manage to Hold Yesterday’s Range

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Posted To: MBS Commentary

bond markets took a hit overnight and never fully recovered Yields topped out heading into the NYSE open and again after the auction 30yr auction was a bit rough, but not a game-changer Echoes of bigger moves in oil/stocks seen in bonds Today ended up being uneventful for bond markets, with yields continuing to coast sideways in the 1.7's, a range that 10yr Treasuries most recently moved into more than a week ago. In other words, not much has happened since then apart from some intraday volatility. Today's overnight session saw a quick bout of selling pressure led by European bond markets. This left US bond markets to begin their day in negative territory, and selling pressure continued from there. Once the NYSE opened, bonds caught their breath and managed to hold under yesterday morning's…(read more)

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