MBS RECAP: One More Day Without a Bounce Toward Higher Rates


Posted To: MBS Commentary

Bigger picture consolidation continues but no bounce toward higher rates yet Quiet overnight session; bonds rally steadily through domestic close oil made a big move lower, but bonds didn't seem to care corporate issuance was a hurdle; bonds cleared it easily In the context of the consolidation in bond markets in 2016 (aka the big triangle connecting the lower highs and higher lows in rates), we look to be due for a bounce toward higher rates . Although we're still at risk of that happening, it didn't happen today. In fact, rates moved back down toward the lower edge of the proverbial triangle after looking like they were headed in the opposite direction on Friday. There was ample coverage of today's oil price declines in the news and financial circles today. This isn't…(read more)

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