MBS RECAP: Bonds Remain in Good Shape Despite Modest Weakness

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Posted To: MBS Commentary

Referring to today as "modestly" weaker is a debatable choice. On the one hand, trading levels hit the 3pm close in modestly weaker territory. No argument there! On the other hand, in the absence of yesterday, those would have been the best closing levels in more than a month. While that's a nice thing to be able to say, it's not as if we've arrived there at the end of some hard-fought battle. Global financial markets are increasingly nervous that the longstanding economic expansion following the financial crisis is going to "die of old age." Trade war fears are just the latest potential harbinger. Stocks and bonds are both generally consolidating after the tax-bill-driven run-up in early 2018. They're now asking themselves, was that it? That meditation on…(read more)

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