MBS RECAP: Bonds Reject Bad Break, But What’s Next?

Facebooktwitterlinkedin

Posted To: MBS Commentary

Bonds were breathing easy by the time the domestic session got underway. Before that, they kicked off the overnight session in lower yield territory. Modest gains meant a friendly break below the potentially troubling resistance trend that had developed over the past 2.5 days. Pictures are worth more than words here, so here is an hourly 10yr candlestick chart as of this morning: Very little changed after that. Notably, this is the 2nd straight day where Treasuries have followed European bonds overnight and then mostly side-stepped through the domestic hours. This won't necessarily be a trend, and it's not so much interesting as it is a reflection of the absence of domestic market movers during that time. That same absence won't be intact tomorrow as the Fed Minutes hit at 2pm ET…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Facebooktwitterredditpinterestlinkedinmail
Show Buttons
Hide Buttons