MBS Week Ahead: 10yr at 3%: The Most Overrated–Possibly Even Meaningless–Ceiling

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Posted To: MBS Commentary

I'm going to be surly this week about the way the bond market is covered in the financial media. Many of the articles to which I take exception will appear in the live news stream on MBS Live and Mortgage News Daily. They are there for reference and/or "target practice," if you take my meaning. And I'm not talking about plinking cans in the 3rd grade at my buddy Tim's house (he had dirt bikes too!). I'm talking more like a heavy explosives demonstration. So please, stay behind the safety glass, put on your protective eyewear, and observe. Target 1: The Notion That High Rates Hurt Stocks: No matter how many times someone writes this in a news article–no matter how many times a talking head claims this on the TV–it never becomes true. I mean, I guess it could become…(read more)

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