MBS RECAP: Not The Kind of Green Day We Like

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Posted To: MBS Commentary

Bonds ended in the green today, albeit just barely . Normally that wouldn't be a bad thing, but today's example leaves a bit to be desired. I should start off by saying that today could have been much worse than it was. Indeed, any time we can avoid ending in the red these days is an opportunity to count blessings. With those disclaimers out of the way, I'll get back to the lament . At the simplest level, generally negative trends generally continued. Case in point: In other words, we may have technically been in positive territory versus the 5pm levels from Friday, but we can all agree those 5pm levels were ridiculously unpleasant. The mid-day turn around occurred A) right on a pivot point with Thursday's highs B) immediately following the European close,and C) immediately…(read more)

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